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Apple Inc. (AAPL) Beats Earnings, Up 5% on Strong Overall Performance

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Apple Inc. (AAPL - Free Report) just released its Q2 2016 earnings results, posting earnings of $1.42 per share and revenue of $42.4 billion.   

Currently, AAPL has a Zacks Rank #4 (Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

Apple:

Beat earnings estimates. The company posted earnings of $1.42 per share, beating our Zacks Consensus Estimate of $1.39.

Beat revenue estimates. The company saw revenue figures of $42.4 billion, beating our estimate of $41.85 billion. 

“We are pleased to report third quarter results that reflect stronger customer demand and business performance than we anticipated in the start of the quarter,” said Apple CEO Tim Cook. He continued, stating that “We had a very successful launch of iPhone SE and we’re thrilled by customers’ and developers’ response to software and services we previewed at WWDC in June.”

“Our Services business grew 19 percent year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Lucas Maestri, Apple’s CFO.

AAPL was up $5.18, or 5.35%, to $101.84 as of 4:43 p.m. EDT in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at Apple’s latest earnings performance:

APPLE INC Price and EPS Surprise

APPLE INC Price and EPS Surprise | APPLE INC Quote

Apple Inc. is engaged in designing, manufacturing and marketing mobile communication and media devices, personal computers, and portable digital music players. The company's products and services include iPhone, iPad, Mac, iPod, Apple TV, a portfolio of consumer and professional software applications, the iOS and Mac OS X operating systems, iCloud, and a range of accessory, service and support offerings.

Check back later for our full analysis on Apple’s latest quarterly earnings report!

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