Earnings for the quarter were $12.30 a share on revenues of $39.2 billion. Analysts polled by Thomson Reuters had projected a 2Q profit of $10.02 a share on revenues of $36.7 billion. Apple had issued guidance of $32.5 billion on revenues with profits of $8.50 per share. Apple's stock was up close to 7% in after-hours trading on the news.
“We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter,” said Tim Cook, Apple’s CEO, in a release from the company. “The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver.”
Apple also sold 4 million Macs during the quarter, a 7% unit increase over Q2 2011 and about what analysts had expected. Apple sold 7.7 million iPods, down 15% from the year-ago quarter.
The results come after Apple's stellar fiscal first quarter results in January, which included a $13 billion profit on revenues of $46.3 billion.
Shares are down nearly 11% since peaking on April 9, putting the stock in “correction” territory.