Apple after the bell on Thursday beat Wall Street’s targets for its fiscal third quarter revenue and earning per share (EPS). In subsequent trading, shares fell.
David Marino-Nachison for The Wall Street Journal:
The Cupertino, Calif.-based company earned $1.26 a share on sales of $81.8 billion for the quarter ended July 1. Analysts polled by FactSet had expected Apple earnings of $1.20 a share on sales of $81.8 billion.
“Our June quarter year-over-year business performance improved from the March quarter,” Chief Financial Officer Luca Maestri said in a news release. “During the quarter, we generated very strong operating cash flow of $26 billion, returned over $24 billion to our shareholders, and continued to invest in our long-term growth plans.”
MacDailyNews Take: If Mr. Market ever figures out the value of Apple’s rapidly growing Services business, you’ll know that miracles do indeed happen.
After the, uh… less enlightened run panicking for the exits Apple — which, in its slowest quarter, just posted revenue of nearly one billion dollars per day — will be just fine.
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