iPhone sales fuel 31 percent quarterly profit boost for Apple

Apple said Tuesday that surging iPhone sales helped propel a 31 percent rise in quarterly profits, as the tech giant delivered a record 48 million of the smartphones.

Profits rose to $11.1 billion, while revenues jumped 22 percent from a year ago to $51.5 billion, Apple said.

The California tech giant, which in September unveiled revamped versions of the iPhone, said the number of units sold jumped 22 percent from last year while revenues lifted 36 percent.

Apple, the world's biggest company by market value, gained 2.75 percent in after-hours trade on the results.

Chief executive Tim Cook said Apple closed the books on its fiscal year, calling it "Apple's most successful year ever," following strong iPhone sales and a range of new or upgraded devices.

"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," Cook said in a statement.