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Apple: Fiscal 1Q Earnings Snapshot

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CUPERTINO, Calif. (AP) _ Apple Inc. (AAPL) on Wednesday reported fiscal first-quarter profit of $28.76 billion.

On a per-share basis, the Cupertino, California-based company said it had net income of $1.68.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $1.41 per share.

The maker of iPhones, iPads and other products posted revenue of $111.44 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $102.51 billion.

Apple shares have risen 7% since the beginning of the year, while the Standard & Poor's 500 index has stayed nearly flat. In the final minutes of trading on Wednesday, shares hit $142.06, a climb of 84% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAPL at https://www.zacks.com/ap/AAPL