Press Here

Apple Destroys Analyst Expectations

Email
|
Print

    NEWSLETTERS

    Apple truly is a juggernaut.

    Analysts asked incredible numbers of the Cupertino-based company and not only did Apple deliver, it shattered those expectations.

    Behind the power of surging iPad and iPhone sales, Apple reported income in the third quarter of $7.31 billion, or $7.79 a share.

    Monday analysts had predicted Apple's earning call would impress but most had anticipated earnings to be around $5.82 a share.

    Not only did Apple surpass those expectations, it also doubled its net income from last year at this time, when the coupled scored $3.25 billion in net income, or $3.51 a share.

    Apple's revenue were up 82 percent from last year as well to $28.6 billion. Analysts were anticipating a figure around $25. billion.

    The strong showing was powered by strong iPhone and iPad sales. Apple said it sold 20.3 million iPhones and 9.25 million iPad units last quarter.