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Apple sold 35M iPhones in fiscal quarter, beating expectations

Apple beat analysts expectations for the quarter, selling 35 million iPhones between January and March — almost twice as many as a year ago.

The report came after Tuesday’s close, which saw the company’s stock fall 2 per cent. But the stock rallied in extended trading, jumping $43.83, or 7.8 per cent, to $604.11.

The company’s net income for the fiscal second quarter was $11.6 billion, or $12.30 per share.

Sales of iPhones accounted for 58 per cent of Apple’s revenue while iPad and Mac sales fell below expectations.