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Apple earnings: $1.96 per share, vs $1.88 expected

Apple on Tuesday posted quarterly earnings and revenue that topped analysts' expectations, boosted by strong iPhone growth in China.

Apple reported fiscal fourth-quarter earnings of $1.96 per share on sales of $51.5 billion.

Analysts expected the tech giant to report earnings of $1.88 per share on $51.11 billion in revenue, according to a consensus estimate from Thomson Reuters. Shares rose more than 1 percent in extended trading following the results.

The company sold 48.04 million iPhones in the quarter, as well as 9.88 million iPads. Both fell slightly short of Wall Street's expectations, according to StreetAccount.

"The fact of the matter is the smartphone market is maturing, unit sales are slowing down...


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