Apple Inc. today (Jan. 31) reported fiscal first-quarter net income of $17.89 billion. On a per-share basis, the Cupertino, California-based company said it had profit of $3.36. The results beat Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $3.22 per share.
The maker of iPhones, iPads and Apple Music's parent company posted revenue of $78.35 billion in the period, also exceeding Street forecasts as analysts expected $76.93 billion.
For the current quarter ending in April, Apple said it expects revenue in the range of $51.5 billion to $53.5 billion. which analysts expected revenue of $52.79 billion.