published Tuesday, July 24th, 2012

Apple sags in latest quarter

By PETER SVENSSON, AP Technology Writer

NEW YORK — Apple says its growth slowed in the most recent quarter, disappointing investors who thought its progress was unstoppable.

In both revenue and net income, Apple Inc. posted the smallest increases in years for the April to June period, failing to meet analyst expectations.

Net income in the fiscal fourth quarter was $8.8 billion, or $9.32 per share. That was up 21 percent from $7.3 billion, or $7.79 per share, a year ago.

Analysts polled by FactSet were expecting earnings of $10.37 per share.

Revenue was $35 billion, up 23 percent. Analysts were expecting $37.5 billion.

Apple sold 26 million iPhones in the quarter, at the low end of expectations. It sold 17 million iPads, beating forecasts.

videos »         

photos »         

e-edition »

advertisement
advertisement

Find a Business

400 East 11th St., Chattanooga, TN 37403
General Information (423) 756-6900
Copyright, Permissions, Terms & Conditions, Privacy Policy, Ethics policy - Copyright ©2014, Chattanooga Publishing Company, Inc. All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Publishing Company, Inc.