Monday, October 28, 2013

Apple Mostly Beats Expectations With Quarterly Results


Apple scored more revenue, earnings per share and iPhone unit sales than analysts expected in the most recent quarter, though it fell short on sales of iPads.



Revenue for the fiscal fourth quarter was $37.5 billion compared to predictions of $36.8 billion. Earnings per share were $8.26 compared to expectations of $7.92. In the same quarter a year ago, Apple reported $36 billion in revenue and $8.67 per share in earnings.


The company sold 33.8 million iPhones, about 2.8 million more than expected and a record for the company. In the same quarter last year, Apple sold 26.9 million iPhones.


Apple, though, sold 14.1 million iPads, about 400,000 fewer than Wall Street analysts had predicted and only 100,000 more than were sold a year ago.


Net income during the quarter was $7.5 billion, down from $8.2 billion a year earlier.


Apple shares were up 1 percent on Monday to $529.88 but were falling 2 percent after the closing bell. The stock is off about 24 percent since hitting $700 per share 13 months ago.


Source: http://feedproxy.google.com/~r/thr/news/~3/0KRVM_tgHl8/apple-beats-expectations-quarterly-results-651276
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