Apple on the verge of becoming the world’s first $1 TRILLION company as shares hit an all-time high after record results reveal it made $11.5bn in just three months.
Apple revealed its profit have jumped more than 30 percent to $11.5 billion in the recently ended quarter, beating market expectations.
The news boosted shares in the tech giant in after-hours trading, putting it ever closer to a history-making, trillion-dollar market value.
The tech giant beat sales estimates in part by selling fewer but pricier iPhones than analysts expected.
Apple sold 41.3 million units, below expectations of 41.8 million units, while hitting an average selling price of $724 (£551.7), which beat analysts’ expectations of $694 (£528).
Shares of Apple surged 3.9 percent to $197.81 in after-hours trading on the back of its powerhouse earnings.
The company reported revenue of 53.3 billion dollars (£40.6bn), up 17 percent from the same period last year and above analyst expectations of 52.4 billion (£39.9bn).
It also reported net income of 11.5 billion (£8.76bn).
Daily Mail Online