Apple Breaks Earnings Record With Strong iPhone Sales

Apple reported record fourth quarter earnings of $1.96 per share on revenue of $51.5 billion, driven—once again—by strong iPhone sales.

The results beat but did not blow past expectations. The stock rose more than 2.75% in after hours trading.

“Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28% to nearly $234 billion. This continued success is the result of our commitment to making the best, most innovative products on earth, and it’s a testament to the tremendous execution by our teams,” said Tim Cook, Apple’s CEO. “We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week.”

“Apple’s record September quarter results drove earnings per share growth of 38% and operating cash flow of $13.5 billion,” said Luca Maestri, Apple’s CFO. “We returned $17 billion to our investors during the quarter through share repurchases and dividends, and we have now completed over $143 billion of our $200 billion capital return program.”

By the numbers:

— Revenue: $51.5 billion, up 22.3%
— iPhone: 48.05 million, up 22.3%
— iPad: 9.883 million, down 19.8%
— Mac: 5.71 million, up 3.4%
— Services: $5.09 billion, up 10.3%
— Other products: $3.05 billion, up 104.6%
— Gross margin: 39.9%, up from 38%
— Revenue guidance: $75.5 to $77.5 billion
— GM guidance: 39% to 40%

The earnings call with analysts is scheduled to start at 5 pm ET (2 pm PT)

Links: Apple press release and Apple’s earnings call.

This article originally appeared on Fortune.com