Apple profit soars but misses high expectations | Inquirer Business

Apple profit soars but misses high expectations

/ 05:30 AM October 19, 2011

SAN FRANCISCO—Apple reported Tuesday that its net profit in the recently-ended quarter soared to $6.62 billion as sales of iPad tablet computers nearly tripled.

The iconic California company said it had a record-high September quarter, taking in revenue of $28.27 billion and selling 11.12 million iPads.

The enviable earnings didn’t measure up to high expectations Wall Street had set for Apple and the company stock price slid nearly five percent to $401.28 in after-hours trading.

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TAGS: Apple, Internet, IT, Telecommunications

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