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Spokane, Washington  Est. May 19, 1883
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News >  Business

Apple’s $9.01 billion profit tops 4Q forecasts

Associated Press

CUPERTINO, Calif. – Apple Inc. on Tuesday reported fiscal fourth-quarter profit of $9.01 billion.

The Cupertino, California-based company said it had profit of $1.67 per share.

The results beat Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $1.66 per share.

The maker of iPhones, iPads and other products posted revenue of $46.85 billion in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $46.83 billion.

For the current quarter ending in January, Apple said it expects revenue in the range of $76 billion to $78 billion. Analysts surveyed by Zacks had expected revenue of $73.47 billion.

Apple shares have climbed 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen roughly 5 percent. In the final minutes of trading on Tuesday, shares hit $118.25, a climb of roughly 3 percent in the last 12 months.

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