Shares of Apple Inc.(NASDAQ:AAPL) are witnessing heavy selling in after hours as the world’s largest company value failed to meet analysts forecast and the company sold fewer than anticipated iPhone during the quarter.
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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.
Following is the brief earnings card :-
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.
Shares of AAPL slumped over 6% in after hours.