Shares of Apple (AAPL - Get Report) were climbing more than 3% in extended-hours trading on Thursday after the tech titan reported stronger-than-expected fourth-quarter financial results and positive guidance for its fiscal first quarter.
For the fourth quarter, Apple posted adjusted earnings of $2.07 per share on revenue of $52.6 billion. Analysts were projecting adjusted earnings of $1.87 per share on revenue of $50.7 billion. For the fiscal first quarter, Apple issued revenue guidance of between $84 billion and $87 billion, compared to analysts' average expectations of $85.16 billion, according to FactSet.
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The results come amidst Apple's release of its two latest smartphones, the iPhone 8 and the iPhone X.
Apple shares were up 3.2% to $173.56 in after-hours trading Thursday. Shares of Apple were up over 45% year-to-date going into the earnings release.
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