Analysts expect big jump in Apple’s fiscal 2nd-quarter profit, buoyed by strong iPhone sales

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Ahead of the Bell: Apple 2Q results

SEATTLE — Apple Inc. is expected to say Tuesday that its net income in the most recent quarter jumped 40 percent, boosted by brisk iPhone sales.

The company is set to report results after the market closes.

In January, Apple started accounting for iPhone revenue in the quarter the device is sold, rather than stretching it out over a two-year period, the presumed life of the phone. The company revised past financial statements to reflect the change.

Wall Street expects Apple, based in Cupertino, Calif., to report net income of $2.45 per share, according to Thomson Reuters, up from $1.79 per share a year ago.

Analysts surveyed by Thomson Reuters forecast Apple’s revenue increased about 33 percent to $12.03 billion in the fiscal second quarter, from a revised $9.08 billion in the year-ago quarter.

Eds: CORRECTS percent change, year-ago net income figures to use revised information.