Apple Inc reported higher-than-expected quarterly results, fueled by robust sales of the iPhone, sending its shares up more than 2 percent on Tuesday.

The company reported net profit of $1.23 billion, or $1.35 a share, for its fiscal third quarter ended June 27, up from $1.07 billion, or $1.19 a share, in the year-ago period.

Revenue rose 12 percent to $8.3 billion, versus the Wall Street estimate of $8.2 billion, according to Reuters Estimates.

Apple issued a typically conservative outlook for the current quarter, forecasting earnings of $1.18 to $1.23 a share on revenue of $8.7 billion to $8.9 billion.

Shares of Cupertino, California-based Apple closed at $151.60 on Nasdaq and rose to $155.10 in extended trading.

(Reporting by Gabriel Madway; Editing by Richard Chang)