Apple beats most optimistic forecasts Apple has once again reported earnings topping even the most optimistic Wall Street forecasts, as strong international sales of the iPhone pushed its results for the first quarter of this year to new highs. Apple reported a 59 per cent jump in revenue to $39.2bn, with net income rising 94 per cent $11.6bn, or $12.30 a share. Wall Street had been expecting earnings of around $9.94 a share on revenues of $36.5bn. The news brought an rapid 7 per cent jump in Apple's shares in after-market trading, dispelling some of the caution that had gathered around the stock in recent days. Before the reversal, Apple's shares had dropped back by 13 per cent from their peak over the past two weeks, falling to just under $560 at Tuesday's close from a high of $644. Underpinning the latest surge in Apple's results was news that it had sold 35m iPhones during the quarter, ahead of most estimates. The 12m iPads sold during the period were also at the top end of most estimates.