Apple earnings disappoint

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John Burfisher/MEDILL

Apple Inc. reported its fiscal first quarter earnings and they failed to impress. Shares of the tech giant fell more than 5 percentĀ in after-hours trading to $487.00 following the news, as Wall Street worried about signs of slowing profit growth.

The company earned $13.81 or per diluted share in the quarter ended Dec. 31, ahead of the analysts’ consensus estimate of $13.57 per diluted share, but below the $13.87 in the same quarter a year ago.

Net income was virtually flat at $13.1 billion compared with $13.06 billion in the year ago period.

Revenue came in at $54.58 billion as expected, up 17 percent from $46.33 billion a year ago.

 

 

The conference call is starting and we will be live blogging.

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