“For the quarter ended Dec. 29, Apple reported a profit of $13.08 billion, up 0.1% from $13.06 billion a year earlier [and the most profitable quarter for any tech company in history, narrowly edging out Apple’s own $13.06 billion record set in the same quarter last year]. On a per-share basis, earnings fell to $13.81 a share from $13.87 a share as the latest period had slightly more shares outstanding. Revenue jumped 18% to $54.5 billion,” Tadena reports. “In October, the company predicted earnings of about $11.75 a share on revenue of about $52 billion. Analysts most recently projected $13.47 share and $54.73 billion, respectively.”
Tadena reports, “Shares fell 10.4% to $460.66 after hours. The stock, which reached an 11-month low last week following reports that Apple cut production for the iPhone for the current quarter, has fallen 16% over the past three months.”
Read more in the full article here.
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