by Eddy Elfenbein, Crossing Wall Street
After the bell Apple (AAPL) reported blow-out earnings.
Net income totaled $13.57 billion in its fiscal second quarter ended March 28, versus $10.22 billion in the year-ago period. Earnings per share rose more sharply, to $2.33, from a split-adjusted $1.66, because the companyās stock-repurchase program reduced the share count.
Revenue rose 27% to $58.01 billion from $45.65 billion in the year-ago period.
Analysts polled by Thomson Reuters estimated that Apple would post earnings of $2.16 a share on revenue of $56.1 billion.
The company also raised its quarterly dividend from 47 to 52 cents per share. Appleās annual dividend is now greater than its share price from 11 years ago.
Appleās market value is $0.8 trillion. If (when) it gets to $171.68 per share, Apple will become the worldās first trillion-dollar company. Apple is worth about 90 points in the S&P 500. Thatās where the whole index was in 1978.
Apple had $5,200 in iPhone sales. Every second.
Apple has enough cash in the bank ($194 billion) to buy every single team in the NFL, NBA, NHL and major league baseball.
If that cash reserve were stacked on the floor of the Grand Canyon, it would be likeā¦whoa look at all that money!
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