CUPERTINO, Calif. (AP) — CUPERTINO, Calif. (AP) — Apple Inc. (AAPL) on Thursday reported fiscal second-quarter profit of $23.64 billion.

On a per-share basis, the Cupertino, California-based company said it had net income of $1.53.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.

The maker of iPhones, iPads and other products posted revenue of $90.75 billion in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $89.99 billion.

Apple shares have dropped 10% since the beginning of the year, while the S&P's 500 index has climbed 6%. In the final minutes of trading on Thursday, shares hit $173.18, a rise of almost 3% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAPL at https://www.zacks.com/ap/AAPL