June 20, 2021

The Apple Inc. iPhone maker is on track to earn a profit for the first time in seven years.

The Wall Street Review reported Monday that Apple earned $1.4 billion in the third quarter, compared with $1 billion a year earlier.

The company reported that revenue was up 3% to $904.5 billion.

That was mostly due to the strong performance of the iPhone 5 and the release of the new iPhone 6.

Apple shares rose 5.3% in premarket trading.