Apple‘s stock — which topped $700 in mid-September — briefly dipped under $600 and remained -1% in after-market trading after reporting disappointing results for the most recent quarter. It’s not that the company did badly. Indeed, for anyone else the results would be considered fantastic: Apple reported net income of $8.2B for its fiscal Q4, +24.2% vs the period last year, on revenues of nearly $36B, +27.2%. The revenue figure slightly beat the Street’s expectations for $35.8B. But earnings per share, at $8.67, were below forecasts for $8.75. Apple’s bare-bones announcement says that it sold 26.9M iPhones in the quarter (+58% vs last year) as well as 14.0M iPads (+26%), 4.9M Macs (+1%), and 5.3M iPods (-19%). The company says it expects to generate $52B in revenue next year, with earnings per share of about $11.75. “We’re very proud to end a fantastic fiscal year with record September quarter results,” CEO Tim Cook says. “We’re entering this holiday season with the best iPhone, iPad, Mac and iPod products ever, and we remain very confident in our new product pipeline.” Apple shares are down about 9.5% over the last month as many investors began to wonder whether the tech company can continue to soar. Reactions to its iPad Mini have been mixed — and it faces intensifying competition from phones and tablets powered by Google’s Android and Microsoft’s Windows operating systems.
Apple’s Fiscal Q4 Earnings Fail To Reassure Anxious Investors
Trending Now on Deadline
More From Lieberman
- Will Redbox's 25% Price Hike For DVD Rentals Hurt Its Bargain Image?
- Exhibitors Agree To “Landmark” ADA Compromise On Closed Captioning
- Court Blocks FCC On Content Deals, Cutting Outsiders' Access To Program Terms
- Turner Networks, Including CNN, Return To Dish Network
- Norman Lear Nixes 'All In The Family' Reboot For Sony--For Now
- Aereo Files For Bankruptcy Protection