Apple results sharply missed analysts’ expectations and the stock is dropping in after-hours trading.
The iPhone and iPad maker reported fiscal third-quarter net income of $8.8 billion, or $9.32 a share, up from $7.31 billion, or $7.79 a share, a year earlier. But the figure fell well short of expectations: Analysts polled by Thomson Reuters were calling for earnings of $10.37 a share.
Revenue rose 23% to $35 billion, which also fell below analysts’ estimates.
(Curated by Dennis Moore. Read the complete article here)