Apple Shares Up 3% After Q3 Earnings Beat on Strong iPhone Sales By

© Reuters. Apple Shares Up 3% After Q3 Earnings Beat on Strong iPhone Sales

By Davit Kirakosyan

Apple (NASDAQ:AAPL) shares were trading nearly 3% higher after-hours Thursday following the company’s reported Q3 results, with EPS of $1.20 coming in better than the consensus estimate of $1.16. Revenue grew 2% year-over-year to $83 billion, beating the consensus estimate of $82.59 billion, and representing a Q3 record.

According to Luca Maestri, Apple’s CFO, Q3 results continued to demonstrate the company’s ability to manage its business effectively despite the challenging operating environment.

iPhone sales in the quarter grew to $40.665 billion versus $39.57 billion last year.

The company also announced its board of directors has declared a cash dividend of $0.23 per share of the company’s common stock, payable on August 11 to shareholders of record as of the close of business on August 8.

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