Apple Inc. Q1 Profit Advances 2%

(RTTNews) - Apple Inc. (AAPL) released earnings for its first quarter that gained ground compared to the same period last year.

The company said its bottom line came in at $18.36 billion, or $3.28 per share. This was higher than $18.02 billion, or $3.06 per share, in last year's first quarter.

Analysts had expected the company to earn $3.23 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 1.7% to $75.87 billion. This was up from $74.60 billion last year.

Apple Inc. earnings at a glance:

-Earnings (Q1): $18.36 Bln. vs. $18.02 Bln. last year. -Earnings Growth (Y-o-Y): 1.9% -EPS (Q1): $3.28 vs. $3.06 last year. -EPS Growth (Y-o-Y): 7.2% -Analysts Estimate: $3.23 -Revenue (Q1): $75.87 Bln vs. $74.60 Bln last year. -Revenue Change (Y-o-Y): 1.7%

-Guidance: Next quarter revenue guidance: $50 - $53 Bln