NEW YORK ( TheStreet) -- It's been a good month for Apple (AAPL - Get Report) shares, which are up about 17% following an unusually dismal performance run for what's generally considered tech's hottest stock.
Despite the summer of Android that sees the Google (GOOG)-based operating system capturing record numbers of smartphone users' hearts, Apple reported blowout third-quarter numbers Tuesday afternoon, which were boosted by an unexpected surge in iPhone sales.
For the quarter, Apple reported adjusted earnings per share of $7.79 on sales of $28.57 billion, compared to the per-share profit of $5.85 on sales of roughly $25 billion that analysts were expecting. That's up from earnings of $3.51 a share on revenue of $15.70 billion in the year-ago period.Both iPad and iPhone sales topped estimates, with the consumer tech giant reporting unit sales of 9.3 million iPads, above analyst estimates of 8 million tablets. And despite the expected slowdown in iPhone sales because of the company's delay in a next-generation device, Apple posted sales of 20.3 million iPhones, surpassing expectations of 17 million. Apple shares surged in after-hours trading, rising more than 4% to $393.63 when the company's earnings call ended. Volume topped 4.7 million in the extended session with the stock running as high as $405, according to Nasdaq.com. Click above to read the recap of TheStreet's live blog of the giant's earnings. --Blog written by Scott Moritz and James Rogers in New York.
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