Earnings Results: Apple shares soar as fiscal third-quarter earnings beat expectations

An Apple store in Manhattan.

Shares of Apple Inc. rallied 4.7% in Tuesday’s extended session after the tech giant turned in stronger-than-expected quarterly earnings and iPhone sales met expectations.

The iPhone maker reported fiscal third-quarter earnings of $8.72 billion, or $1.67 a share, compared with $7.8 billion, or $1.42 a share, a year earlier. Analysts surveyed by FactSet had forecast earnings of $1.57 a share.

Live coverage of Apple’s earnings conference

Revenue grew to $45.41 billion from $42.36 billion, beating analysts’ average estimate of $44.89 billion. Sales of iPhones totaled 41.03 million, edging up from 40.4 million in the same period last year but down from 50.8 million in the fiscal second quarter.

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