Most analysts had expected a big quarter for Apple, propelled by big holiday sales numbers. They were right; they just didn’t go high enough with their estimates.
Apple reported revenue of $26.7 billion for its first-quarter which ended on December 25th. (The company uses a fiscal year for its earnings and reporting.) That’s earnings of $6 billion, or 6.43 cents per share, which is up 78 percent from a year ago.
FactSet Research said analysts were predicting earnings of around $5.42 per share and revenue of $24.4 billion.
Not coincidentally, all of this good news comes the day after the company announced that CEO Steve Jobs was taking a medical leave of absence. Apple stock traded ended the day down 2.25 percent at $340.65. Trading in the stock was halted after hours. When it resumed, shares were up in after-hours trading.