Apple Misses Estimates Despite All-Time Record Mac and iPad Sales

Shares of Apple AAPL are trading lower in the after-hours following the release of the company's Q4 earnings results. Currently, shares are lower by 4.86%, trading at $401.71; they ended the regular session higher by 0.54%, at $422.24. Apple reported Q4 EPS of $7.05 on revenues of $28.27 billion; the Street was looking for $7.27 per share on revenues of $29.28 billion. Revenues increased 39% year over year. The company sold 4.89 million Macs, 17.07 million iPhones, and 11.12 million iPads in Q4. "We are thrilled with the very strong finish of an outstanding fiscal 2011, growing annual revenue to $108 billion and growing earnings to $26 billion," said Tim Cook, Apple's CEO. "Customer response to iPhone 4S has been fantastic, we have strong momentum going into the holiday season, and we remain really enthusiastic about our product pipeline." The company sees Q1 revenues of $37.0 billion and EPS of $9.30. Apple Inc. designs, manufactures and markets a range of personal computers, mobile communication and media devices, and portable digital music players, and sells a range of related software, services, peripherals, networking solutions, and third-party digital content and applications.
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