Apple Earnings: Here’s Why Investors are Selling Shares
Apple Inc. (NASDAQ:AAPL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 5%.
Apple Inc. Earnings Cheat Sheet
Results: Net income increased 0.28% to $13.1 billion ($13.81 per diluted share) in the quarter versus a net gain of $13.06 billion in the year-earlier quarter.
Revenue: Rose 17.63% to $54.5 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Apple Inc. reported adjusted net income of $13.81 per share. By that measure, the company beat the mean analyst estimate of $13.44. It missed the average revenue estimate of $54.73 billion.