Apple’s earnings for the last quarter of its fiscal year are out, and the company has disappointed Wall Street once again by doing better than most analysts predicted.
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The consensus estimate for Apple’s earnings was around $36.7 billion, and Apple earned $37.5 billion. But the company’s stock is down about 3.75% in after-hours trading.
Part of that reaction may have to do with Apple’s guidance for its current quarter. The company is forecasting gross margins of 36.5% to 37.5%, which would continue that metric’s steady fall. Apple’s overall profit in the fourth quarter, which it reported today, slipped to $7.5 billion, from $8.2 billion a year prior.
Apple’s revenues were helped by the sale of 33.8 million iPhones, beating expectations of about 31 million.