Published October 25, 2012
SAN FRANCISCO – Apple Inc reported quarterly revenue that met Wall Street expectations even as iPad sales disappointed. Trading in the stock was halted after hours.
Apple said its fiscal fourth quarter revenue rose to $35.96 billion, roughly in line with the average analyst estimate of 35.8 billion, according to Thomson Reuters I/B/E/S.
Apple shipped 26.9 million iPhones, somewhat higher than the 25 million to 26 million that Wall Street analysts had predicted. Sales of the iPad came in at 14 million in the fiscal fourth quarter, well below lowered forecasts for the tablet.
Apple only had nine selling days of the new iPhone 5 in its fiscal fourth quarter, which means that all eyes are now on the current holiday quarter.
Apple heads into the quarter after having refreshed almost all of its product lines, including an upgraded, full-sized iPad. The December quarter will show how well consumers respond to Apple's latest gamble - the new, smaller iPad mini that will goes on sale Nov. 2. (Reporting by Poornima Gupta; Editing by Richard Chang)