Tuesday, July 22, 2008

Apple Beats Wall Street Estimates in New Reports

Computer and consumer electronics maker Apple reported fiscal third-quarter earnings Monday that beat forecasts on strong sales of Mac computers and iPhones. But shares fell after-hours as the company's outlook for the fourth quarter disappointed investors.

The Cupertino, Calif.-based company posted fiscal third-quarter net income of $1.07 billion, or $1.19 per diluted share, up 31% from last year's earnings of $818 million, or 92 cents per share. Analysts were expecting earnings of $1.08 per share according to Thomson Reuters.

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