Apple Inc. (AAPL.US) reported fiscal third-quarter EPS of USD2.02 for the period ended June 27, up from USD1.57 in the same period last year. Net sales mounted 16% YoY to USD109.42 billion, with both figures beating expectations.
However, the company said during its earnings conference call that fiscal fourth-quarter revenue growth would only range from 9% to 11%, below market expectations of more than 12%.
Weighed down by the news, the company's share price dived 6.33% to USD312.33 in after-hours trading.
CEO Tim Cook said supply constraints would affect more Mac, iPhone and iPad products this quarter, while foreign exchange fluctuations were also jeopardizing growth.
Cook compared the chip cost issue to a "once-in-a-century flood", saying the chip shortage was caused by stronger-than-expected demand for iPhone and Mac products.
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AASTOCKS Financial News
Website: www.aastocks.com
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248 (-) |
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