Apple Rises On Earnings News (AAPL)

Apple AAPL released its second quarter earnings results after the closing bell on Wednesday. The company reported net income of $5.987 billion, or $6.40 per share, compared to $3.074 billion or $3.33 per share, in the year ago quarter. This came in ahead of analysts' consensus EPS estimates of $5.36. Net sales for the quarter were $24.67 billion compared to $13.50 billion in the year ago period. Wall Street analysts had consensus estimates of $23.34 billion. During the quarter, the company sold 3.76 million Macs, a 28% year over year increase. Apple sold 18.65 million iPhones in Q2, which was an increase of 113%. iPod sales declined by 17%. Apple sold 4.69 million iPads in Q2, which missed estimates. Looking ahead to fiscal Q3, Apple sees earnings per share of $5.03 on revenue of around $23 billion. This compares to Street estimates of $5.25 per share on revenue of $23.82 billion. While this guidance is a little light, AAPL is notorious for under promising and over delivering. In the after hours trading session, AAPL has gained 4.17% to $356.70.