Apple Inc posted stronger-than-expected quarterly results on strong iPhone sales, and gave a typically conservative outlook for the current quarter, which failed to dampen enthusiasm from investors.

Shares of the Mac and iPod maker rose 2.5 percent after it said on Wednesday that net profit rose to $1.21 billion, or $1.33 a share, in its fiscal second quarter ended March 28, from $1.05 billion, or $1.16 a share, in the year-ago quarter.

Analysts were expecting a profit of $1.09 a share, according to Reuters Estimates.

Revenue rose 8.7 percent to $8.16 billion, beating Wall Street's forecast of $7.96 billion.

In its always cautious outlook, Apple forecast earnings for the current quarter of 95 cents to $1.00 a share on revenue of $7.7 billion to $7.9 billion.

Wall Street was expecting current-quarter earnings of $1.12 a share on revenue of $8.3 billion.

Shares of Apple closed the regular session down 25 cents at $121.51 on the Nasdaq and rose to $124.60 in extended trading.

(Reporting by Gabriel Madway; Editing by Gary Hill)