Shares of Apple Inc.(NASDAQ:AAPL) slipped near to one month low late Tuesday after the world’s largest company posted lower than estimated third quarter earnings.
Get Complete Earnings Report Here
The company earned $9.32 a share on revenue of $35 billion, missing analysts target of $10.38 a share on revenue of $37.35. However, the company topped its own guidance.
Following are the notable key facts during the past quarter:-
- · On the company’s earnings call, the company’s CFO Peter Oppenheimer commented that the economy in Europe as well as in Brazil and Australia had an effect on the company’s quarter,
- · The company has also been lowering the prices of its older devices, which is a good for consumers but not necessarily for the bottom line,
- · Although the company serves as a leader in the smartphone industry, but the company has been facing increased competition from Samsung and other players. The firm recently lost its spot as the world’s largest smartphone maker to Samsung, whose phones run Google’s Android operating system,
- · As for the iPad’s chances in an increasingly competitive market, Cook said he was not concerned by competitors such as Google’s Nexus 7,
- · “We’ve all seen many different tablets, hundreds of them come to market over the last year and I have yet to see any of them gain what I would call any level of traction at all,” Cook said. “We’re going to keep innovating in the space and keep making great products.”
- · The company did not add any major markets or carriers in the past quarter, meaning that the bulk of sales were where the company already has a major presence.
- · The company topped its own estimates, but failed to meet analysts’ expectations