Apple Earnings: Profits & iPads Hit, iPhones Miss Expectations

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http://www.thevarguy.com – Apple (NASDAQ: AAPL) said Q1 2013 revenues were $54.5 billion and net income was $13.1 billion — or $13.81 per diluted share. CEO Tim Cook is all smiles. But are shareholders? Before you answer let’s pose this question: How did earnings, iPhone and iPad sales compare to Wall Street’s expectations? The VAR Guy has the scorecard. Here it is. Revenues: $54.5 billion. Wall Street was expecting “just under $55 billion” so this is in line with expectations. Net Income: $13.81 per diluted share, above the $13.45 per share that Wall Street was expecting. iPhone Sales: 47. (IT news)