Apple reports lower iPhone sales in Q1 than expected
For it's 2010 fiscal first quarter, Apple earned $3.38 billion or $3.67 a diluted share vs. last year's figures of $11.88 in revenue, $2.26 billion in earnings or $2.50 a diluted share. CEO Steve Jobs said, "The new products we are planning to release this year are very strong starting this week with a major new product we're really excited about." In 2 days, Apple will be holding an event in San Francisco rumored to include the introduction of an Apple tablet, the debut of a 4th generation iPhone and/or iPhone OS 4.0 and quite possibly the announcement of a Verizon Wireless branded CDMA model of the iPhone. After reporting the numbers, Apple's stock is up .9% after hours after rising 2.7% during the regular trading session.