Apple, already facing low expectations for its third-quarter earnings, reported disappointing results that caused shares to plunge in after-hours trading.
The technology giant said profit rose 21% to $8.8 billion, or $9.32 per share, on revenue of $35 billion, up 22% from a year earlier. The results were less than what analysts had expected. Shares plummeted in after-hours trading, falling $34, or nearly 6%, to $566.78.
Analysts surveyed by
The company sold 26 million iPhones in the quarter, up 28% from a year earlier, and 17 million iPads, up 84%. Sales of iPods, at 6.8 million, fell 10%. Mac sales totaled 4 million, a 2% rise.
Apple reported its earnings after the markets closed. During regular trading, shares fell $2.91, or less than 1%, to $600.92.
Apple's board has declared a cash dividend of $2.65 per share of the company's common stock, payable Aug. 16.
The company will hold a conference call with analysts at 2 p.m. Pacific time.