Apple stock is surging again after the tech giant recorded a record $51.8 billion in revenue in the fourth quarter of 2017.
The company posted a profit of $2.4 billion.
The stock surged in the after hours trading, as investors awaited the announcement of the stock’s earnings.
Apple, which had a loss of $1.1 billion in the year, recorded $5.4 trillion in revenue for the quarter.
The iPhone maker is expected to report its quarterly earnings on Thursday.
The tech giant posted revenue of $5 billion for the year.
According to the company, Apple has been profitable for six consecutive quarters.
It is also profitable for a total of nine quarters in a row.
“We are going to continue to execute on our long-term vision of making the world’s best and most advanced mobile platform for every customer,” Apple CEO Tim Cook said in a statement.
As for the market, Apple was the No. 3 most valuable company at $16.9 billion.
It is up about 10% year-to-date.
This article was originally published by Business Insider and was republished with permission.