Fresh off its much-anticipated iPad mini reveal, Apple reported quarterly earnings that missed Wall Street's forecasts on Thursday and an outlook that fell shy of estimates.
Apple shares [AAPL 609.538
-7.292
(-1.18%)
]
ended the regular trading day down 1.2 percent and were halted
after-hours. After shares resumed trading, they fell more than 2
percent. (Click here to get the latest quotes for Apple.)
Apple shares [AAPL 609.538
-7.292
(-1.18%)
]
ended the regular trading day down 1.2 percent and were halted
after-hours. After shares resumed trading, they fell more than 2
percent. (Click here to get the latest quotes for Apple.)
Net
income in the fiscal fourth quarter rose to $8.2 billion, or $8.67 per
share, from $6.6 billion, or $7.05 per share, a year ago.
Revenue increased 27 percent to $35.97 billion from $28.27 billion a year ago.
Analysts
had expected the company to report earnings excluding items of $8.75 a
share on $35.8 billion in revenue, according to a consensus estimate
from Thomson Reuters.
The
results came as Apple heads into the crucial holiday season, when
competition in the smartphone and tablet market will reach fever-pitch,
with Apple pitting a new phone and iPads against Amazon.com [AMZN
222.92
-5.57
(-2.44%)
] and Google Android devices [GOOG
677.76
0.4578
(+0.07%)
].
-5.57
(-2.44%)
] and Google Android devices [GOOG
677.76
0.4578
(+0.07%)
].
For
the fiscal first quarter, Apple said it expects earnings of $11.75 a
share on $52 billion in revenue. Analysts currently expect earnings of
$15.43 per share and $55 billion in revenue.
Read more: http://www.cnbc.com/id/49541938
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