19 Oct '11, 12am

Apple's net income in Q4 hits US$6.62b, but its earnings still came in below high Wall St expectations

Apple's net income in Q4 hits US$6.62b, but its earnings still came in below high Wall St expectations

A customer exits the Apple store with his new iPhone 4S in New York, Oct 14, 2011. -- PHOTO: REUTERS NEW YORK (AP) - Apple Inc. failed to set a new sales record in the last three months of founder and chief executive officer (CEO) Steve Jobs' life. Its financial results came in below expectations on Tuesday - a rare miss for the company. After several record quarters, the July-to-September period saw Apple biding its time, with no new iPhone or iPad releases. Earnings and revenue rose from last year at rates that would be the envy of any large company, but investors had expected the seemingly unstoppable company to do even better. Net income in the fiscal fourth quarter was US$6.62 billion (S$8.4 billion), or US$7.05 per share. That was up 54 per cent from US$4.31 billion, or US$4.64 per share, a year ago. Analysts polled by FactSet were expecting earnings of US$7.28 per s...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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BLOG UPDATE: Apple Inc. Failed to Set a New Sal...

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Apple Inc. failed to set a new sales record in the last three months of founder and CEO Steve Jobs' life. Its financial re...

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