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SAN FRANCISCO (AP) — Apple hoped to offset slowing demand for iPhones by raising the prices of its most important product, but that strategy seems to have backfired after sales sagged during the holiday shopping season.

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...

Apple today announced financial results for its fiscal 2015 third quarter ended June 27, 2015. The Company posted quarterly revenue of $49.6 billion and quarterly net profit of $10.7 billion, or $1.85 per diluted share. These results compare to revenue of $37.4 billion and net profit of $7.7 billion, or $1.28 per diluted share, in the year-ago quarter. Gross margin was 39.7 percent compared to 39.4 percent in the year-ago quarter. International sales accounted for 64 percent of the quarter’s revenue. Wall Street analysts’ consensus estimates called for Apple to report EPS of $1.81 on revenue of $49.31 billion for...

No company produces bigger profits than Apple Inc. AAPL -1.03% Likewise, no company contributes more to the profit picture of the S&P 500 than Apple. Apple is a leviathan of a company that is a major contributor of profits in corporate America. Its fortunes, also, are inextricably intertwined with two of the biggest growth markets that exist, smartphones and China. That makes it a bellwether. Because of its success, Apple is also an out-sized member of the S&P 500. We noted yesterday that the stock comprises about one percentage point of the S&P 500&'s 3.5% gain for this year (before...

Apple had a pretty good quarter. And by “pretty good,” I mean it was the biggest quarter in history. And not just for Apple. For any company. Ever. This page charts the past record holders. Until today, Russia’s Gazprom (the largest natural gas extractor in the world) held the record at $16.2 billion in a quarter. Apple now holds the record: $18.04 billion in profit, fiscal Q1 of 2015. Absolutely. Insane. For reference, that means Apple makes around $8.3 million dollars per hour in profit (24 hours a day). Of the current Top 20 record holding earners, 15 are Oil/Gas...