Biggest Takeaways From Apple's Earnings Report

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Apple  (AAPL) - Get Apple Inc. (AAPL) Report Maven Daniel Martins joined TheStreet to talk about Apple's earnings. 

Let's take a look at the report

Apple said profits for the three months ending in June, the tech giant's fiscal third quarter, were pegged at $1.30 per share, up 100% from the same period last year and well ahead of the Street consensus forecast of $1.01 per share. Group revenues, Apple said, rose 36% from last year to $81.4 billion, again topping analysts' estimates of a $73.3 billion tally.

Apple said iPhone revenues rose 49.8% from last year to $39.57 billion, well ahead of the $35.8 billion Street forecast of around 35.8 billion.

“This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important,” said CEO Tim Cook. “We’re continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.” 

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