Apple reported its earnings for the third quarter of 2015 on Tuesday, narrowly surpassing Wall Street expectations.
The iPhone manufacturer reported earnings per share of $1.85, which surpassed Wall Street’s expectations of $1.81 EPS. The number is also higher than the $1.28 earnings a year ago.
Apple also reported revenue of $49.6 billion, which also narrowly surpassed the projected $49.31 billion, and is up nearly 40 percent from $37.43 billion a year ago.
The company sold 47.5 million iPhones in the quarter, which is down from the projected 49 million, but declined to break down sales figures for the iWatch since its April 24 launch.
“We had an amazing quarter, with iPhone revenue up 59 percent over last year, strong sales of Mac, all-time record revenue from services, driven by the App Store, and a great start for Apple Watch,” said Apple CEO Tim Cook in a statement. “The excitement for Apple Music has been incredible, and we’re looking forward to releasing iOS 9, OS X El Capitan and watchOS 2 to customers in the fall.”
Ahead of the company’s earnings report, Apple stocks closed out Tuesday at $130.89, down $1.18 from Monday.