Apple results blow past estimates, shares rise

Apple Inc reported results that blew past Wall Street’s forecasts, boosted by robust sales of Mac computers, and its shares rose 3.4 percent in after-hours trading.

Apple reported net income for the fiscal third quarter ended June 26 of $3.25 billion, or $3.51 cents a share, up from $1.83 billion, or $2.01 cents a share, in the year-ago period.

Analysts on average were expecting earnings of $3.11 a share, according to Thomson Reuters I/B/E/S.

Revenue rose to $15.7 billion, well ahead of Wall Street’s forecast for $14.75 billion.

For the current quarter, Apple estimated earnings of $3.44 a share on revenue of $18 billion.

Shares of Cupertino, Calif.-based Apple closed up 2.6 percent at $251.89 on Nasdaq and rose to $260.50 in extended trading.