Apple Rose Over 3% in Morning Trading After Showing Its Strong Quarter Result

Apple rose over 3% in morning trading after showing its strong quarter result.

For its full fiscal third quarter, Apple earned $1.20 a share, on $82.96B in revenue, while analysts had forecast Apple (AAPL) to earn $1.15 a share, on $82.81B in sales.

Services continued to be Apple's second-biggest business driver, with revenue of $19.6B, up 12% from the year-ago period.

However, sales in Apple's other main business areas declined, likely due in part to what Cook said were ongoing supply issues.

IPad sales of $7.22B were down 2% from a year ago, while Mac sales declined by 10%, to $7.38B and sales of wearables, home and accessories dipped by 8%, to $8.08B.

Still, Cook remained upbeat about the Mac and iPad, in particular, and said Apple remained "encouraged by consumer demand" despite supply constraints in some areas.

Maestri also said Apple had declared a quarterly dividend of 23 cents a share that will be payable on August 11 to shareholders of record as of August 8.