The company has now beat analyst expectations in every quarter for the last two years, with 48 million iPhones sold in the last three months.
Josh Edelson / AFP / Getty Images
Apple beat Wall Street estimates for profit and revenue again in its most recent quarter, bringing in $11.1 billion in earnings on $51.5 billion in revenues. The company has now beat Wall Street projections for profits every quarter for the past two years, according to data collected by Bloomberg.
And the real action is still to come: Apple's biggest quarter comes next, as the holiday shopping season spurs a frenzy of phone, tablet and laptop sales. Apple predicted revenue for the final three months of the year at between $75.5 billion and $77.5 billion, while analysts expect revenue in that quarter to be $77 billion. In the holiday season last year, Apple had the most profitable quarter in American history, turning an $18 billion profit on $75 billion in revenue.
Investors cheered Tuesday's results, sending the stock up over 3% to $118 in after-hours trading; Apple stock was up almost 4% for the year as of the end of trading Tuesday, prior to the results being announced.
Andreas Solaro / AFP / Getty Images
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