Apple reports earnings of $13.1 billion

MarketWatch.com - MarketPulse SAN FRANCISCO (MarketWatch) -- Apple Inc. on Monday reported a fiscal first-quarter profit of $13.1 billion, or $14.50 a share, on revenue of $57.6 billion. During the same period a year ago, Apple earned $13.1 billion, or $13.81 a share, on $54.5 billion in sales. Analysts surveyed by FactSet had forecast Apple to earn $14.09 a share on $57.47 billion in revenue. Apple said its results were boosted by sales of 51 million iPhones and 26 million iPads during the quarter. In after-hours trading, Apple shares fell as much as 6% as the company forecast second-quarter sales between $42 billion and $44 billion, while analysts had forecast revenue of $46.12 billion.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.