Shares of Apple Computer (NYSE: AAPL) have been trading up nicely today after last night’s earnings release. The stock has been up about 7 percent for most of the session after shattering its fiscal fourth quarter.
Wall Street analysts had been expecting to see the computer giant post earnings of $0.85 cents per share, but the company surprised to the upside with a remarkable $1.01 per share. The company outpaced its revenue estimates as well by showing $6.22 billion, above estimates of $6.06 billion.
Looking ahead to the current quarter, the company is forecasting that it will earn $1.42 per share, which is higher than Wall Street estimates of $1.40 a share.
For all you iPhone fanatics out there, the company stated that it shipped 1.2 million units of the popular phone during the quarter. Sales of the iPhone are still under what some analysts have been hoping, but this is likely to change after the company announced last week that it was going to start to allow users to install other software on their devices.
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