Apple’s stock fell after the company released its most recent quarterly report, despite record revenue, iPad and iPhone sales. It posted $13.1 billion, or $13.81 per share, in net income for its first fiscal quarter on revenue of $54.5 billion. Net income was flat compared with the same period a year earlier, but revenue was up 18 percent from the $46.3 billion it earned in the year-ago quarter. Apple sold 47.8 million iPhones, up from 37 million last year. The company sold 22.9 million iPads during the holidays, an increase from 15.4 million a year ago.
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Apple Stock Tanks Despite Record-Busting Sales
Posted by: Rachelle Dragani January 24, 2013 11:21 AMApple’s stock fell after the company released its most recent quarterly report, despite record revenue, iPad and iPhone sales. It posted $13.1 billion, or $13.81 per share, in net income for its first fiscal quarter on revenue of $54.5 billion. Net income was flat compared with the same period a year earlier, but revenue was up 18 percent from the $46.3 billion it earned in the year-ago quarter. Apple sold 47.8 million iPhones, up from 37 million last year. The company sold 22.9 million iPads during the holidays, an increase from 15.4 million a year ago.