REUTERS
Apple Inc. said its quarterly profit rose 31%, sparked by strong demand for iPhones in China, according to MarketWatch.
The corporation reported a 22% increase of the quarterly revenue to $51.5 billion from $42.12 billion in the same period a year earlier.
Apple said fourth-quarter net income totaled $11.12 billion, up from $8.47 billion in the year-ago period.
Analysts polled by Thomson Reuters estimated that Apple would post earnings of $1.88 a share on revenue of $51.1 billion.
Apple also reported gross margin, the percentage of revenue that remains after manufacturing costs, of 39.9%, above its estimated range of 38.5% to 39.5%. Gross margin is a closely watched measure of profitability.
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Apple didn't disclose sales for Apple Watch, its first all-new hardware product since 2010.