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Apple misses Wall Street fourth quarter expectations

By Peter Svensson

AP Technology Writer

POSTED:
LAST UPDATED: 02:47 p.m. HST, Oct 25, 2012



NEW YORK >> Apple missed Wall Street earnings expectations for the second straight quarter, as iPad sales fell short of analyst forecasts.

The slowdown in the growth of iPad sales was not unexpected, as the rumor mill correctly predicted that Apple would launch a smaller, cheaper iPad. It announced that device, the iPad Mini, on Tuesday.

Net income in the fiscal fourth quarter was $8.2 billion, or $8.67 a share. That was up 24 percent from $6.6 billion, or $7.05 per share, a year ago.

Analysts polled by FactSet were expecting earnings of $8.84 per share.

Revenue was $36 billion, up 27 percent from a year ago. Analysts were expecting $35.8 billion.

Apple sold 26.9 million iPhones in the quarter, at the high end of expectations, and 14 million iPads.







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allie wrote:
All of these silly devices are becoming a bore
on October 25,2012 | 11:02AM
MizuInOz wrote:
Misses: by 8 cents a share... That is really serious... time to sell my shares. Bought at $16.70 and now at $609.54 - bad investment! I'm holding anyway. Why do I worry about 8 cents?
on October 25,2012 | 11:24AM
frontman wrote:
The sky is falling, the sky is falling. You worry when you wonder if you'll get another paycheck.
on October 25,2012 | 03:27PM
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