Apple Earnings: Shares Gain 3% in After Hours

Apple shares climbed 3% in after-hours trading Tuesday after it reported a spike in earnings and revenue that were in line with analyst estimates. The company earned $2.34 per share on revenue of $53.3 billion for its fiscal third quarter, compared with $1.67 per share and $45.4 billion. Analysts on average expected Apple (AAPL) to post earnings of $2.16 per share, according to FactSet. They expected revenue of $52.34 billion. In February, Apple said it expected revenue of between $51.5 billion and $53.5 billion for the quarter.