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Apple Stock Drops As iPhone Maker's Sales Decline For Third Straight Quarter

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Consumer electronics giant Apple (AAPL) late Thursday beat Wall Street's target for its fiscal third quarter earnings while matching views for sales. Apple stock fell in extended trading

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The Cupertino, Calif.-based company earned $1.26 a share on sales of $81.8 billion for the quarter ended July 1

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Analysts polled by FactSet had expected Apple earnings of $1.20 a share on sales of $81.8 billion. On a year-over-year basis, Apple earnings increased 5% while sales dropped 1%

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Apple's results marked its third quarter in a row of declining sales. However, earnings returned to growth after two consecutive quarters of flat or declining profits

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During the quarter, we generated very strong operating cash flow of $26 billion, returned over $24 billion to our shareholders, and continued to invest in our long-term growth plans

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Apple Stock Drops As iPhone Maker's Sales Decline For Third Straight Quarter

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Consumer electronics giant Apple (AAPL) late Thursday beat Wall Street's target for its fiscal third quarter earnings while matching views for sales. Apple stock fell in extended trading

theUBJ

The Cupertino, Calif.-based company earned $1.26 a share on sales of $81.8 billion for the quarter ended July 1

theUBJ

Analysts polled by FactSet had expected Apple earnings of $1.20 a share on sales of $81.8 billion. On a year-over-year basis, Apple earnings increased 5% while sales dropped 1%

theUBJ

Apple's results marked its third quarter in a row of declining sales. However, earnings returned to growth after two consecutive quarters of flat or declining profits

theUBJ

During the quarter, we generated very strong operating cash flow of $26 billion, returned over $24 billion to our shareholders, and continued to invest in our long-term growth plans

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