Apple earnings slip again, but beat targets SAN F
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Posted On: 10/28/2013 7:07:59 PM
Apple earnings slip again, but beat targets
SAN FRANCISCO (MarketWatch) — Apple Inc. (NASDAQ:AAPL) said Monday afternoon that earnings slipped 8.5% in the fourth fiscal quarter, but came in higher than Wall Street had expected. For the period ended Sept. 28, Apple said net income totaled $7.5 billion, or $8.26 per share, compared to net income of $8.2 billion, or $8.67 per share, for the same period last year. Revenue grew 4% to $37.5 billion. Analysts were expecting earnings of $7.92 per share with revenue of $36.8 billion for the period, according to consensus estimates from FactSet. The company said it shipped 33.8 million iPhone units during the period; analysts were expecting about 32 million units shipped. The iPhone 5S and 5C launched in the final week of the quarter. Apple shares were down 3% in after-hours trades following the report.
SAN FRANCISCO (MarketWatch) — Apple Inc. (NASDAQ:AAPL) said Monday afternoon that earnings slipped 8.5% in the fourth fiscal quarter, but came in higher than Wall Street had expected. For the period ended Sept. 28, Apple said net income totaled $7.5 billion, or $8.26 per share, compared to net income of $8.2 billion, or $8.67 per share, for the same period last year. Revenue grew 4% to $37.5 billion. Analysts were expecting earnings of $7.92 per share with revenue of $36.8 billion for the period, according to consensus estimates from FactSet. The company said it shipped 33.8 million iPhone units during the period; analysts were expecting about 32 million units shipped. The iPhone 5S and 5C launched in the final week of the quarter. Apple shares were down 3% in after-hours trades following the report.
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