Selling a higher than expected 35 million units of the Apple iPhone, Apple reported $12.30 a share in earnings
for its fiscal second quarter crushing expectations of $10.04. The strong report sent Apple's shares up more than 6% in after-hours trading after the stock dropped over 2% during the regular trading session. Revenue for the quarter came in at $39.2 billion, ahead of analyst's estimates of $36.85 billion.
For its third fiscal quarter ending in June, Apple called for revenue to drop to $34 billion and earnings per share to come in at $8.68. As usual, Apple is trying to downplay results as analysts are looking for Q2 revenue to come in at $37.4 billion and EPS at $9.95. Apple iPhone sales could slow down in this period as buyers wait for the next-generation model of the smartphone which will probably launch in October.
Besides beating estimates on iPhone sales, Apple sold 11.8 million units of its Apple iPad tablet
, short of the 12-13 million tablets that Wall Street expected to be sold.
As of 4:45pm EDT, Apple shares were up over 6% to $598.