Apple (AAPL) Slightly Higher Following Blow-Out Q2 Results

Shares of Apple Inc. (Nasdaq: AAPL) are 2% higher in after-hours action today following another blow-out quarter from the company. The company benefited from strong iPhone sales and lower component costs.

Apple reported Q2 EPS of $1.33, which was well above the analyst estimate of $1.09. Revenue for the quarter was $8.16 billion, versus the consensus of $7.96 billion. Apple, which is usually very conservative on guidance, said it sees Q3 sales of $7.7-$7.9 billion, versus the consensus of $8.3 billion, with EPS of $0.95-$1.00, versus the consensus of $1.12.

Apple sold 3.79 million iPhones in the quarter, which was significantly above the Street estimate of 3.3 million and up 123% from the year-ago quarter. The company said the amount of revenue and product cost related to those iPhone sales that the Company deferred for recognition in future periods under subscription accounting was substantial.

Apple sold 2.22 million Macs in the quarter, down 3% from last year. The company sold 11.01 million iPods in the quarter, up 3% from last year.

UPDATE: Click here to see some highlights from Apple's Q2 conference call.

Click here to see some highlights from the company's Q2 conference call.

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