Apple Inc. reported a strong surge in second-fiscal quarter earnings on Tuesday, thanks mostly to strong sales of the company’s iPhone and Mac computers.
Shares of Apple were halted in after-hours trading following the report after closing the regular session down 1 percent at $244.59. The stock has come up 16 percent so far this year. As usual, the company issued a highly conservative earnings forecast for the June quarter that was below Wall Street’s estimates.
For the March period, the Cupertino, Calif.-based company said net income came in at $3.07 billion, or $3.33 per share compared to net income of $1.62 billion, or $1.79 per share, for the same period last year. Revenue jumped 49 percent to $13.5 billion.
Analysts were expecting earnings of $2.45 per share on revenue of $12 billion, according to consensus forecasts from Thomson Reuters.
Apple said it sold 8.75 million iPhones for the quarter; analysts were expecting sales of a little over 7 million. The company sold 2.94 million Mac units and nearly 10.9 million iPods. Analysts were expecting Mac sales of about 3 million units and iPod sales of about 9.75 units.
The quarter did not include any sales figures for the iPad, which went on sale on April 3 after the period ended.
To read more, go to MarketWatch.com.

