Apple Beats Wall Street Expectations

For the three months ended March 30, the Cupertino-based PC maker earned $40 million, or 11 cents a share, on revenue of $1.5 billion. In the year-ago period, Apple earned $43 million, or 12 cents a share, on revenue of $1.43 billion.

Wall Street analysts surveyed by Thomson Financial/First Call had projected earnings of 10 cents a share on revenue of $1.46 billion.

Shares of Apple finished the regular session up 37 cents to $26.11 on the Nasdaq Stock Market on Wednesday, but fell 31 cents in after-hours trading.

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