Apple Inc. Q1 Profit Advances, Beats estimates

(RTTNews) - Apple Inc. (AAPL) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $34.63 billion, or $2.10 per share. This compares with $28.76 billion, or $1.68 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.89 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 11.2% to $123.95 billion from $111.44 billion last year.

Apple Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $34.63 Bln. vs. $28.76 Bln. last year. -EPS (Q1): $2.10 vs. $1.68 last year. -Analyst Estimate: $1.89 -Revenue (Q1): $123.95 Bln vs. $111.44 Bln last year.