Apple tops estimates in best ever holiday trading period

Tech giant Apple posted record quarterly figures for the holiday trading period on Tuesday, easily exceeding both revenue and earnings expectations.

Apple generated a net income of $22.44bn, or $4.99 per share - a marked improvement on the $19.97bn recorded a year earlier and well ahead of the $4.54 per share expected by analysts on the Street.

Revenues grew to $91.82bn from $84.31bn, also significantly above consensus estimates of $88.48bn.

The California-based firm also issued revenue guidance for its current quarter that was well ahead of consensus estimates as it projected revenues of $63bn-67bn.

Revenues for its wearables and accessories segment grew 37% to $10.01bn, while iPhone revenues totalled $55.96bn and made up more than half of Apple's overall sales yet again as they ticked up over 7% year-on-year.

Apple did miss on services revenue though, generating $12.72bn in revenue from the wing - up 17% year-on-year but below the $13.06bn consensus estimate.

Chinese trading improved, pulling in 3% more than it had in the year prior at $13.58bn.

As of 2150 GMT, Apple shares were up 2.27% in after-hours trading at $324.90 each.