Quantcast

Wednesday, October 01, 2014         

 Print   Email   Comment | View 3 Comments   Most Popular   Save   Post   Retweet

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.






 Print   Email   Comment | View 3 Comments   Most Popular   Save   Post   Retweet

COMMENTS
(3)
You must be subscribed to participate in discussions


IN OTHER NEWS
Breaking News