The firm beat analyst expectations by 10 cents per share and the $7.51 billion revenue is also a lot higher than the consensus of $6.96 billion. However, the company's guidance for the third quarter isn't as good as analyst were hoping for:
The profit forecast for the third quarter disappointed some investors who wanted more.Apple's shares dropped 2.8 percent in afterhours trading.
``The only fly in the ointment would appear to be the earnings guidance,'' said David Garrity, an analyst at Dinosaur Securities Inc. in New York. ``Investors are jumpy, if nothing else.''
Apple forecast profit for the current quarter of $1 a share, missing the average estimate among analysts of $1.11. Sales will rise to rise to $7.2 billion, Apple said, matching the average prediction of analysts in a Bloomberg survey.
Apple's profit forecast missed analysts' estimates in eight of the nine previous periods. The company topped its forecast in each of those quarters.