Apple Beats On Top and Bottom Line, Issues Stronger Guidance

Apple

reported strong earnings and revenues, with earnings per share of $1.42 on revenue of $42.1 billion, handily beating expectations of 1.31 in EPS and $40 billion in revenue. Apple also upped guidance slightly to a range of $63.5 billion to $66.5 billion compared to a previous guidance of $63.5 billion. CEO Tim Cook said the that Apple sold nearly 40 million iPhones during the quarter, with analysts expecting roughly 37.5 million. Demand for the iPhone 6 and iPhone 6 Plus was "off the charts" according to Cook. Shares of Apple are trading virtually unchanged in after hours trading at 99.92.