Services Lead Apple to Beat Wall Street Estimates

Apple reported $2.46 per share in earnings, beating the $2.37 estimate thanks to a new high of $11.5 billion in services revenue. Overall revenue was $58 billion.

As expected, iPhone revenue continued to dip at $31 billion as compared to $37.6 billion from last year due to weaker international demand. The stock price is up about 5 percent in after-hours trading.