Does that mean the glass is half full? Apparently not to investors trading in the initial moments after Apple reported its results for the quarter that ended in December. Shares are down about 5% post-market after the electronics company reported net income of $13.1B, essentially flat with last year, on revenues of $57.6B, +5.7%. The top-line figure is slightly higher than the $57.4B that analysts expected. Yet earnings at $14.50 a share were well ahead of the $14.08 the Street anticipated. The company says that revenues in the current quarter could hit $44B; bulls had been hoping for something closer to $46B. Investors also might be disappointed in the news that Apple sold 51M iPhones in its fiscal Q1, which it says is an “all-time quarterly record” and up 6.7% vs the period last year. Optimists thought the company would come closer to 56M. Apple also sold 26M iPads (also a record and +13.5%), 4.8M Macs (+17.1%), and 6M iPods (-52.3%). “We love having the most satisfied, loyal and engaged customers, and are continuing to invest heavily in our future to make their experiences with our products and services even better,” CEO Tim Cook says.
Apple Beats Analyst Estimates For Fiscal Q1 Earnings, But Not iPhone Sales
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