Apple Q4 Earnings Miss the Mark

By Lyneka Little

Oct 18, 2011 5:32pm

In Apple’s first quarterly earnings call since the death of co-founder and former CEO Steve Jobs, the company disclosed that its earnings missed the marked for the fiscal fourth quarter at $6.62 billion, or $7.05 per share.

The figure is below the estimated $7.28  earnings per share that analysts were expecting based on a poll by FactSet.

To kick off the call, CEO Tim Cook said in introductory statement, “The world has lost a visionary and amazing human being.”

“…Steve inspired everyone at apple to do extraordinaty things,” he continued.

In July, ABC News’ Dan Arnall reported the company generated a second quarter net profit of $7.31 billion on revenue of $28.57 billion, by selling 20.34 million iPhones, 9.25 million iPads and 3.95 million Mac computers. The earnings per share for the previous quarter was $7.79.

The bad news follows a record-breaking week for the most valuable company. On Monday, three days after its launch, Apple announced it had sold more than 4 million of the new iPhone 4s.

“iPhone 4S is off to a great start with more than four million sold in its first weekend — the most ever for a phone and more than double the iPhone 4 launch during its first three days,” Apple senior vice president of Worldwide Product Marketing  Philip Schiller said in a statement.

The company is planning a “celebration” of the life of Jobs, who died earlier this month from respiratory arrest brought on by a pancreatic tumor,  on Wednesday at its campus in Cupertino, Calif

Shares of the company closed at $422.24 , up 0.54 percent today, but declined to in after-hours trading.

You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus