Apple Inc. (NASDAQ: AAPL) reported Monday that its fiscal fourth quarter profit surged 70%, helped by strong sales of its wildly popular iPhone. However, shares of the company slumped more than 5% in extended trading as iPad sales missed analyst expectations. Net income climbed to $4.31 billion, or $4.64 per share, from $2.53 billion, or $2.77 per share, in prior-year quarter. Revenue jumped 67% to $20.34 billion from $12.21 billion in the same quarter last year. Analysts, on average, expected the company to report earnings of $4.06 per share on revenue of $18.86 billion. Gross margin for the fourth quarter dropped to 36.9% from 41.8% in the prior year quarter, while operating margin for the quarter declined to 26.8% from 30.1% a year earlier. IPhone sales soared 91% to 14.1 million units. The company sold 4.19 million iPads during the fourth quarter. Analysts expected Apple to sell nearly 4.8 million iPads during the quarter. Looking ahead to the fiscal first-quarter, the company said that it expects earnings of $4.80 per share on revenue of $23 billion. Analysts currently expect the company to report earnings of $5.03 per share on revenue of $22.35 billion.
International Business Machines Corp. (NYSE: IBM) said Monday that its third-quarter net income improved to $3.6 billion, or $2.82 a share, from $3.2 billion, or $2.40 a share, in the year-ago period. Excluding non-operating pension charges and acquisition-related charges, operating net earnings would have been $3.63 billion or $2.85 per share for the quarter.Revenue grew 3% to $24.3 billion. Analysts, on average, expected the company to report earnings of $2.75 per share on revenue of $24.12 billion. Looking ahead, the company now expects fiscal 2010 earnings to be at least $11.40 per share. Previously the company anticipated earnings of at least $11.25 per share. Analysts currently expect earnings of $11.29 per share for the full-year. IBM shares plunged more than 3% in after-hours trading.
VMware Inc. (NYSE: VMW) reported that its third-quarter net income jumped to $84.6 million, or 20 cents a share, from $38.2 million, or 9 cents a share, in the year-earlier period. Revenue soared to $714.2 million from $489.8 million. Analysts, on average, expected the company to report earnings of 35 cents per share on revenue of $697.75 million. Shares of the company tumbled more than 5% in late trading.
Capital One Financial Corp. (NYSE: COF) said Monday that its third quarter net income surged to $803 million, or $1.76 per share, from $394 million, or 87 cents per share, in the comparable quarter last year. Revenue increased $4.016 billion from $3.558 billion. Analysts, on average, expected the company to report earnings of $1.13 per share on revenue of $3.80 billion. Shares of the credit card lender rallied more than 4% in after-hours trading.
Steel Dynamics Inc. (NASDAQ: STLD) reported that its third-quarter net income declined to $18.74 million, or 9 cents per share, from $69.02 million, or 30 cents per share, in the year-ago period. Revenue rose to $1.58 billion from $1.17 billion. Analysts, on average, expected the company to report earnings of 9 cents per share on revenue of $1.50 billion.
Disclosure: Author doesn't own any of the stocks discussed here.
