Apple Falls 8% in After Hours Trading

Apple has reported the results from its fiscal Q1 2014 quarter, which ended December 28, 2013. The company reported quarterly revenue of $54.5 billion and profit of $13.1.

Apple also released a data summer sheet to go with its earnings release. Revenue is up 6% in Q1 2014 compared to Q1 2013. Total iPhone units sold was up 7%. iPad and Mac sales also increased during the time period. The iPod units sold tumbled by 52% - Apple sold over 6,000 them in its Q1 2014 quarter compared to 12,600 in Q1 2013.

The number of iPhones sold fell short of analysts expectations. CNBC reportsreports that Apple also provided revenue estimates for the current quarter of $42 to $44 billion, which is under analysts projections of $46.12 billion.

Apple lost 44 points in after house trading, which is about 8%.

Posted on January 28, 2014

More from Traders Trade