Apple Shares Rise as Earnings Edge Out Estimates

(Bloomberg) -- Apple Inc. shares rose as much as 3.8 percent in post-market trading after first-quarter earnings edged out analysts estimates and the high end of the company’s second-quarter revenue forecast was in line with Wall Street’s views.

The iPhone maker said it returned $13 billion through dividends and buybacks during the December quarter, and ended the period with a net cash balance of $130 billion.

Apple’s forecast for sales in the current quarter was light, with a midpoint below the consensus estimate, and sales in China dropped.

For more on Apple first-quarter earnings, click here for our TOPLive blog.

--With assistance from Tom Giles.

To contact the reporter on this story: Jeremy Cooke in Mount Pleasant, S.C. at jcooke8@bloomberg.net

To contact the editor responsible for this story: Anny Kuo at akuo1@bloomberg.net

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