Tech giant Apple posted earnings of $1.28 a share on revenue of $37.4 billion for the fiscal third quarter.
Analysts had expected the company to report earnings of $1.23 a share on roughly $37.98 billion in revenue, according to a consensus estimate from Thomson Reuters. The company's stock dropped slightly on the news.
"I couldn't be happier. This is the best execution of any quarter since I've been at Apple," CEO Tim Cook told CNBC.
For the fiscal fourth quarter, Apple is projecting revenues of between $37 billion and $40 billion, gross margins of between 37 and 38 percent, and operating expenses of between $4.75 billion and $4.85 billion. The company also announced a 47-cent per common-stock share dividend. The company's cash hoard rose to $164.5 billion.
CEO Cook praised the company's results and said they're "excited about other products are services we can't wait to introduce."
Brian Blair, analyst at Rosenblatt Securities said that, historically, the time leading up to Apple product launches are good times to buy the company's stock.
"If you look at the last five years of Apple product announcements in the fall, the stock does that about 95 percent of the time. It runs up and it often sells off actually after the products are seen. So there's no risk coming right now … very low risk," he told CNBC's Closing Bell.