Apple slips after earnings miss

iMissed.

Apple reported its much-anticipated earnings after the close on Tuesday. For the third-quarter, the consumer electronics giant posted a profit of $9.32 per share on revenue of $35 billion, missing the Street’s expectations of $10.36 per share on $37.1 billion in sales.

Wall Street expected Apple to ship 29 million iPhones during the June quarter — the figure investors were most anxious about — and actual iPhone shipments came in at just 26 million units. iPad channel sales totaled 17 million beating Street’s consensus for16 million units, and iPod family shipments slid in at 6.8 million units compared to analysts’ 5.9 million-unit consensus. Mac channel sales were expected to total 4.1 million units, and Apple reported shipping 4 million Mac computers in the third fiscal quarter.

“We’re continuing to invest in the growth of our business and are pleased to be declaring a dividend of $2.65 per share,” said Peter Oppenheimer, Apple’s CFO. “Looking ahead to the fourth fiscal quarter, we expect revenue of about $34 billion and diluted earnings per share of about $7.65.”

Apple (AAPL : NASDAQ : US$601.09), Net Change: -2.74, % Change: -0.45%, Volume: 14,801,521

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