Wednesday, April 25, 2012

Apple Rolls Along

The biggest news on Wall Street yesterday didn't happen till after the closing bell, when Apple announced its latest quarterly earnings. And this one was another doozy: Revenues came in at $39.2 billion, easily beating the analysts' consensus of  $36.8 billion. Earnings per share were $12.30, well ahead of the estimates of $10.04 a share.

Compared to the numbers from a year ago, Apple's latest figures are very strong. The company reported revenue of just $26.5 billion in the second quarter a year ago, and earnings per share have nearly doubled since then. But they're also a step down from the first quarter of this year, when Apple reported an astonishing total of more than $46 billion in revenue.

So the question for investors and Apple fans will be, which is more important? The fact that Apple blew past the analysts' estimates, or the fact that the numbers have declined from the previous quarter? We'll probably find out the answer sometime today.

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