CUPERTINO, Calif. (AP) — CUPERTINO, Calif. (AP) — Apple Inc. (AAPL) on Thursday reported fiscal second-quarter profit of $29.58 billion.
On a per-share basis, the Cupertino, California-based company said it had profit of $2.01.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.92 per share.
The maker of iPhones, iPads and other products posted revenue of $111.18 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $109.48 billion.
Apple shares have dropped slightly since the beginning of the year, while the S&P’s 500 index has increased slightly more than 5%. In the final minutes of trading on Thursday, shares hit $271.35, a climb of 28% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAPL at https://www.zacks.com/ap/AAPL