Apple Shares Rise After Earnings, iPhone Sales Beat Expectations

Apple shares are on the rise after reporting better-than-expected fiscal third quarter results.
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Apple (AAPL) - Get Report shares are on the rise after reporting better-than-expected fiscal third quarter results Tuesday after the closing bell. Earnings of $1.42 a share beat estimates of $1.38 a share. Sales of $42.4 billion topped estimates of $42.09 billion. The company sold 40.4 million iPhones, eclipsing estimates of 39.9 million iPhones. Apple Services revenue stood at $6 billion, a 19 percent increase year-over-year. TheStreet's Scott Gamm reports from Wall Street.