Apple posted quarterly results that beat estimates Monday, but reported weak iPhone sales and handed in a current-quarter revenue forecast that underwhelmed, sending shares lower in extended-hours trading.
The company posted earnings of $14.50 a share on sales of $57.59 billion, surpassing expectations for $14.07 a share on sales of $57.46 billion, according to a consensus estimate from Thomson Reuters.
Shares dropped more than 5 percent in extended-hours trading. What is Apple stock doing now? (Click here to get the latest quotes.)
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During the quarter, Apple said it sold 51 million iPhones, fewer than the 55-million estimate expected by Wall Street analysts. Additionally, the company sold 26 million iPads and 4.8 million Macs.
In addition, the company said it expects to hand in current-quarter revenue of between $42 billion and $44 billion, versus expectations for $46.05 billion.