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Apple fiscal Q3 EPS comes in above consensus

Apple Inc. on Aug. 1 reported an earnings beat for its fiscal third quarter.

The company reported net sales of $45.41 billion for the quarter ended July 1, up 7% from $42.36 billion in the comparable year-ago quarter.

Net income came to $8.72 billion, or $1.67 per share, compared to $7.80 billion, or $1.42 per share, in the 2016 quarter, up 17% on a per-share basis.

The S&P Capital IQ EPS estimate for Apple's fiscal third quarter was $1.57.

The company sold 41.03 million iPhones during the quarter for revenue of $24.85 billion.