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Apple said on Tuesday that quarterly profit rose 26 percent, driven by sales of its new iPhone, but it issued a forecast for the current quarter well below Wall Street expectations.
Shares of Cupertino, Calif.-based Apple [AAPL
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] leaped almost 12 percent in extended trading. They closed the regular session down $6.95, or 7.06 percent, at $91.49. The stock was briefly halted after the bell Tuesday.
Apple reported a profit in its fiscal fourth-quarter ended Sept. 27 of $1.14 billion, or $1.26 a share, up from $904 million, or $1.01 a share, in the year-ago period.
Revenue rose 27 percent to $7.9 billion.
Analysts were expecting the company to post a profit of $1.11 a share on revenue of $8.04 billion, according to Reuters Estimates.
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Apple shipped 6.89 million iPhones in the quarter, the first since it released the faster, next-generation model. Mac shipments increased 21 percent from last year to 2.61 million, while iPod shipments rose 8 percent.
For the important holiday quarter ending in December, Apple forecast a profit of between $1.06 a share and $1.35 a share on revenue between $9 billion to $10 billion. The company is famously cautious in its outlook.
Analysts, on average, are expecting earnings of $1.69 on revenue of $10.7 billion in the period, according to Reuters Estimates.
Apple Results Boost AT&T Shares
Shares of AT&T, the exclusive carrier for Apple's iPhone in the U.S., rose more than 3 percent in extended trading Tuesday after the release of Apple's iPhones sales figures.
The second model of the phone, the iPhone 3G, went on sale in the U.S. and 21 other countries on July 11.
AT&T reports its third-quarter earnings Wednesday morning, and analysts have been expecting the telecommunications company to report a gain of 1.8 million to 2 million wireless subscribers.
- CNBC.com staff and the Associated Press contributed to this report.
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