Apple [AAPL] reports OK Q3 numbers, stock off in after-hours

Screen shot of video purporting to show larger form factor of iPhone 6.
Screen shot of video purporting to show larger form factor of iPhone 6.

CUPERTINO, Calif. — Apple (AAPL) released its eagerly anticipated third-quarter earnings report after Tuesday’s closing bell. The company earned $7.7 billion, $1.28 per share, for the three-month period ending June 28, which was a 12% increase from 2013’s Q3 earnings of $6.9 billion, $1.07 per share.

On the other hand, while revenue jumped 6% from last year’s number to $37.4 billion, that number was roughly $600 million below analysts’ consensus. Currently, in after-hours action, traders seem somewhat disappointed in these results, focusing on the latter as evidence the company may be on the way to becoming another low-growth Microsoft (MSFT).

A 9% drop in last year’s iPad sales figures also worried some analysts. The stock is trading down roughly seventy-five cents from its $94.72 per share close in active after-hours trading.

Regardless of the financial news, however, media mavens are still eagerly anticipating what they are viewing as a likely major sales increase once Apple announces the availability of its new and likely bigger iPhone 6 models.

Some analysts also perked up when Apple’s announcement noted that the iPhone’s third-quarter sales growth was strongest in the BRICs countries, particularly in Brazil, China, and Russia.

Rumors have the new phone’s display ranging from 4.7 to 5.5 inches on the diagonal, the better to compete with new, larger, Android-driven models such as those already sold by the company’s bitter rival, Samsung. A late-September launch of the iPhone 6 is likely.

Below is a Chinese YouTube video purporting to show the iPhone 6 front bezel against an iPhone 5 demonstrating the former’s larger form factor.

Click here for reuse options!
Copyright 2014 Communities Digital News

• The views expressed in this article are those of the author and do not necessarily represent the views of the editors or management of Communities Digital News.

This article is the copyrighted property of the writer and Communities Digital News, LLC. Written permission must be obtained before reprint in online or print media. REPRINTING CONTENT WITHOUT PERMISSION AND/OR PAYMENT IS THEFT AND PUNISHABLE BY LAW.

Correspondingly, Communities Digital News, LLC uses its best efforts to operate in accordance with the Fair Use Doctrine under US Copyright Law and always tries to provide proper attribution. If you have reason to believe that any written material or image has been innocently infringed, please bring it to the immediate attention of CDN via the e-mail address or phone number listed on the Contact page so that it can be resolved expeditiously.

Previous articleWorkforce Innovation and Opportunity Act would benefit immigrants
Next articlePresident Obama’s liberal apathy problem
Terry Ponick
Biographical Note: Dateline Award-winning music and theater critic for The Connection Newspapers and the Reston-Fairfax Times, Terry was the music critic for the Washington Times print edition (1994-2010) and online Communities (2010-2014). Since 2014, he has been the Business and Entertainment Editor for Communities Digital News (CDN). A former stockbroker and a writer and editor with many interests, he served as editor under contract from the White House Office of Science and Technology Policy (OSTP) and continues to write on science and business topics. He is a graduate of Georgetown University (BA, MA) and the University of South Carolina where he was awarded a Ph.D. in English and American Literature and co-founded one of the earliest Writing Labs in the country. Twitter: @terryp17
  • gardenSalsa64

    Article 1 of our sacred Constitution clearly defines the power of the purse as belonging to Congress.

  • Bill Cortell

    Article 1, Sections 7 and 8 of the United States Constitution, clearly define the power of the purse as belonging to Congress. The House, specifically. The President may make suggestions, per Article II, Section 3.