Apple Sold 33.8 Million iPhones in Q4, Stock Drops 5%

Apple beat analyst estimates for the fourth fiscal quarter, but the stock still dipped by nearly 5% in after hours trading

Apple reported earnings per share of $8.26 on revenue of $37.5 billion for the quarter, coming in well ahead of Wall Street estimates for earnings of $7.93 per share on revenue of $36.84 billion. While that represented a record revenue for the September quarter, profits declined year-over-year for the third straight quarter

The company also reported selling 33.8 million iPhones, an increase of 26% from the previous year and beating estimates. iPad sales, on the other hand, came in a little light at 14.1 million — essentially flat year over year — presumably because consumers were waiting to see the newest models released this month Read more…

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