Apple shares tumbled in after hours trading ($156.16,-10.13, -6.09%) as the company offered guidance of $1.00 EPS on $7.8 billion in revenue. First Call analysts’ consensus estimates are for $1.24 EPS on $8.32 Billion in revenue.
Apple is notorious for providing conservative guidance.
Apple today posted Q308 revenue of $7.46 billion and net quarterly profit of $1.07 billion, or $1.19 per diluted share versus analysts’ consensus expectations of $1.08 a share on revenue of $7.4 billion. These results compare to revenue of $5.41 billion and net quarterly profit of $818 million, or $.92 per diluted share, in the year-ago quarter.