Apple has posted strong quarterly earnings, beating Wall Street expectations. The company reported its best March quarter in history, which caused shares to jump 4% in after-hours trading.
The growth is supported by the continued popularity of the iPhone, with revenue for the flagship device expected to increase by roughly 20%. Apple also forecast sales that beat expectations, although the company indicated it expects to continue facing chip supply constraints. This forecast sent shares up more than 3%.
As Apple reported these earnings after the close on Thursday, investors are looking past the numbers. Many are now seeking clues regarding the strategic plans of incoming Chief Executive Officer John Ternus.