Apple Inc. (AAPL) reported earnings of $1.82 cents per share vs. Wall Street analysts estimate of $1.42 cents per share. Powered by iPhone sales, the company had revenues of $9.87 billion for the quarter, well above estimates of $9.2 billion. Apple's stock was up 8.5 percent in after hours trading.

Chip maker Texas Instruments (TXN) also had an impressive quarter, reporting earnings of 42 cents per share, which topped Wall Street estimates of 39 cents per share. The company recorded $2.88 billion in revenues versus estimates of $2.82 billion, which reflects a decline in sales from the prior year. Texas Instruments' stock rose 8.2 percent in after hours trading.