Shares of Apple are sharply higher in after-hours trading after the company blew past analysts' fourth-quarter expectations. For the quarter, Apple said earnings jumped 67% to $904 million, or $1.01 per share, compared to last year's profit of $524 million, or 62 cents per share. Revenue soared 29% to $6.22 billion from $484 billion last year. Analysts were expecting a profit of 86 cents per share on the quarter.
Digging into the figures, the company said it shipped 10.2 million iPods for the fourth quarter, while unloading 2.16 million Macs. iPhone sales topped 1.4 million in fiscal 2007.
Pessimism had been building in the days prior to the report, with the stock's Schaeffer's put/call open interest ratio (SOIR) rising to 0.95 in the 66th percentile. However, calls were the flavor of choice in the options pits today, with some 37,370 calls crossing the tape at the stock's November 175 strike, which sports open interest of 35,386 contracts. What's more, the November 180 and 185 strikes saw more than 30,000 and 24,000 contracts change hands, respectively.
At last check, AAPL shares were seen trading near $183 in electronic trading.