Apple shares surge in after hours trading on stellar earnings report

Apple Computer on Wednesday reported a third-quarter profit of $320 million, or 37 cents a share, on revenue of $3.52 billion. During the same period a year ago, Apple earned $61 million, or 9 cents a share, on revenue of $2.01 billion. Apple beat the estimates of analysts surveyed by Thomson First Call, who forecast a profit of 31 cents a share on $3.34 billion in revenue. iPod sales climbed to 6.15 million units from 860,000 a year ago.

Apple shares surged $1.36, up 3.55%, to $39.71 on heavy volume of 7,690,772 in after hours trading after ending the regular session up $0.11 at $38.35.

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