Apple Misses on Revenue; Beats on EPS

EarningsReuters

Apple Inc reported lower-than-expected iPhone sales in the latest quarter, its slowest-ever growth in shipments, and forecast sales below Wall Street's estimates for the current quarter as the company began to feel the effects of economic softness in the critical Chinese market.

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Apple said on Tuesday it sold 74.8 million iPhones in its fiscal first quarter, ended Dec. 26, the first full quarter of sales of the iPhone 6S and 6S Plus. The 0.4 percent growth in shipments was the lowest since the product was launched in 2007.

Apple's shares, which have fallen 5 percent this year, were up 0.4 percent at $100.42 in volatile after-hours trading.

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