Apple Fiscal Q3 Results Fall Short Of Analyst Expectations

Apple Q3 2012 EarningsApple fanatics may find it hard to believe that the company could disappoint anybody. But the company’s stock is down about 5% in after-market trading following the release of fiscal Q3 earnings that failed to impress. Apple had net income of $8.8B, +20.7% vs the period last year, on revenues of $35.0B, +22.6%. The Street anticipated revenues of nearly $37.2B. The earnings figure at $9.32 a share also missed analysts’ target of $10.36. If there’s a problem you wouldn’t know it from Apple’s cheery release. The company says it sold 26M iPhones in the quarter, up 28% from the June quarter last year. iPad sales were up 84% to 17M, while Mac sales rose 2% to 4M. But iPod sales declined 10% to 6.8M. CEO Tim Cook says the company is “really looking forward to the amazing new products we’ve got in the pipeline.”

Related: Apple Introduces Updates To Siri Plus New MacBook Pro With Retina Display

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