Apple’s third quarter record

Apple more than doubled its net income during its fiscal third quarter, which ended June 30, to $7.3 billion, or $7.79 per share.

Analysts’ census by Thomson Reuters had expected earnings of $5.85 per share.

Apple’s stock price increases 5% after hours, at one point soaring above $400 for the first time. The company’s shares had closed at a record high of $376.85 on Tuesday.

Sales for the Cupertino, Calif.-based company rose 82% to $28.6 billion, peaking analysts’ forecasts of $25 billion.

Peter Oppenheimer, Apple’s chief financial officer, said he anticipates the company to produce sales of $25 billion and earnings per share of about $5.50 during the current quarter. As always, Apple’s ultra-conservative outlook should be taken with a grain of salt. For instance, Apple beat its own fiscal third-quarter sales forecast by 24% and its profit forecast by 54%.

Analysts expect sales of $27 billion and earnings of $6.45 per share in its fiscal fourth quarter.

Source:Apple’s record day

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>