Apple posted a quarterly profit that blew past Wall Street forecasts thanks to strong sales of Mac computers and improved margins, sending its shares higher in extended trading Tuesday.
Apple said it earned $1.35 a share in its fiscal third quarter, excluding one-time items, on sales of $8.34 billion. That compares with $1.19 a share on sales of $7.46 billion in the same period last year.
Analysts who follow Apple expected the company to turn in a gain of $1.17 a share on sales of $8.2 billion, according to a consensus from Thomson Reuters.
"Obviously it's a phenomenal beat, particularly on the bottom line, printing $1.35. We were at $1.17," said Daniel Ernst, analyst at Hudson Square Research. "It demonstrates operating efficiencies. Most of the numbers were better than expected, particularly the Macs."