Apple beats profit estimates

Apple reported stronger-than-expected results for the past quarter, with higher revenues and profits, delivering a boost to its share price.

Profit climbed 12 percent to $8.7 billion, and revenue rose seven percent to $45.4 billion, with the California-based company selling 41 million iPhones in the fiscal third quarter to July 1.

Shares rose nearly six percent to $159.01 in after-market trades that followed released of the earnings report.