Fresh off its much-anticipated iPad mini reveal, Apple reported quarterly earnings that missed Wall Street's forecasts on Thursday and an outlook that fell shy of estimates.
Customers try iPad tablets on display at a new Apple store.. REUTERS/Vincent Kessler/ …Apple shares (AAPL) ended the regular trading day down 1.2 percent and were halted after-hours. After shares resumed trading, they fell more than 2 percent.
The company's fiscal fourth-quarter earnings excluding items rose to $8.67 per share from $7.05 a share in the year-earlier period.
Revenue increased 27 percent to $35.97 billion from $28.27 billion a year ago.
Analysts had expected the company to report earnings excluding items of $8.75 a share on $35.8 billion in revenue, according to a consensus estimate from Thomson Reuters.
``Relative to our numbers, they were kind of in line. What people are going to focus on is that iPad was a bit weak and iPhone was solid during the quarter. The big question comes from the guidance," said analyst Shannon Cross of Cross Research.
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For the fiscal first quarter, Apple said it expects earnings of $11.75 a share on $52 billion in revenue. Analysts currently expect earnings of $15.43 per share and $55 billion in revenue.
During the quarter, the company said it sold 26.9 million iPhones, 14 million iPads and 4.9 million Mac computers.
In the earnings release, the company announced that its board of directors has declared a cash dividend of $2.65 per share of common stock.
"The dividend is payable on November 15, 2012, to shareholders of record as of the close of business on November 12, 2012," the company's release said.
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Shortly before the end of Apple's fourth quarter, the company launched the iPhone 5, the latest version of its popular smartphone. Since the iPhone 5's release in stores, the company's shares have slipped more than 13 percent from their $705 all-time high.
The release comes two days after the company introduced the iPad mini and an update of its popular full-sized iPad. It said it has sold more than 100 million iPads since the devices debuted in April 2010.
In the fourth quarter, Apple said it sold 27 million iPhones, 14 million iPads and 5 million Macs.
- Reuters contributed to this report.
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