Apple results 'not as bad as we thought they might be'
Shares of computer and smartphone maker Apple rose nearly 5% in after-hours trading after it reported better-than-expected profits for the third quarter.
It made $6.9bn (£4.5bn) profit for three months to June, thanks in part to good sales of its iPhone smartphone.
However, average sale prices were lower and profit was down 22% from the same period a year earlier.
IT industry analyst at Davies Murphy Group Chris Green told BBC World News, "Apple's overall results were not as bad as we thought they might be".
"They've moved away from being that darling of the tech industry... but there's a lot of good signs there's some interesting products in the pipeline."
24 Jul 2013
- From the section Business