Apple logs Q3 beat, but Q4 sales outlook disappoints

Yahoo Finance ^ | July 21,2015 | Aaron Pressman

[Hojczyk]

The world's biggest technology company said its earned $1.85 a share, beating estimates by four cents, for the three months ended June 27. Sales of $49.6 billion, up 33% from a year earlier, also topped views of $49.4 billion. However, Apple's current-quarter revenue outlook of $49 billion to $51 billion, came in on the low end of the FactSet Research Systems consensus of $50.9 billion.

Apple said it sold 47.5 million iPhones during the quarter, essentially matching estimates. Meanwhile, Cupertino, Calif-based Apple disclosed iPad sales of 10.9 million units, and Mac sales of 4.8 million units, both coming in close to Wall Street forecasts.

Apple shares, which had gained 19% so far this year, tumbled some 7% in extended action.

The stock tumbling despite Apple posting the highest rate of revenue growth in three years, sales in China more than doubling and iPhone sales increasing 59% signaled just how high investor expectation have grown for the world's largest and most successful technology company. Although earnings per share beat analysts' estimates by 2%, Apple had exceeded that target by an average of 10% over the previous four quarters.

[DuncanWaring]

When their CEO made a big deal out of being homosexual, he was basically saying “Our future offerings are going to be a tad lean, so buy iCrap because I’m homosexual”.