Host of large cap companies have reported their quarter earnings late Tuesday with Apple Inc.(NASDAQ:AAPL), Netflix, Inc.(NASDAQ:NFLX) and Buffalo Wild Wings(NASDAQ:BWLD) are falling after posting disappointing results.
Shares of Apple Inc.(NASDAQ:AAPL) tumbled over 5% in after-hours as the iPhone maker reported poor earnings and revenue, which failed to meet analysts forecast. The company posted net income of $8.82 billion, or $9.32 a share, up from a year ago profit $7.31 billion, or $7.79 a share and revenue grew 23% to $35.02 billion. Analysts were estimating the company to report $10.36 and revenue of $37.18 billion. The company’s international revenue contributed 62% of the total sales.
Get Complete Earnings Report Here
The company said it sold 26.0 million iPhones in the quarter, up 28% unit growth year over year. The company sold 17.0 million iPads during the quarter, an 84 percent unit increase over the year-ago quarter. The Company sold 4.0 million Macs during the quarter, a two percent unit increase over the year-ago quarter. The company sold 6.8 million iPods, a 10 percent unit decline from the year-ago quarter.
Netflix, Inc.(NASDAQ:NFLX) fell over 14% after the company posted lower than estimated subscribers growth. However, the company reported higher than estimated third quarter earnings and said that it earmed 11 cents a share on revenue of $889 million, topping analysts target of a profit of 5 cents a share on revenue of $889 million. At least as important, though, are the video service’s subscriber numbers. Here investors were looking for 24.3 million domestic streaming subscribers, 9.1 million DVD subs, and 3.7 million subscribers from Canada, Latin America and the UK, and Netflix didn’t quite get there: 23.9 million domestic, 9.2 million DVD, and 3.6 million international.
Get Complete Analysis on Earnings of NFLX for Free Here
Buffalo Wild Wings(NASDAQ:BWLD) lost over 13% as the company posted lower than estimated second-quarter profit and revenue on lower margin. The company earned $11.7 million, or 62 cents a share on revenue of $238.7 million, compared to a year ago profit of $10.7 million, or 58 cents a share. Analysts were estimating the company to report 68 cents a share on revenue of $240 million.