Apple Q3 Results Top Estimates; Q4 Revenue Outlook Weak

(RTTNews) - Apple Inc. (AAPL) reported net income for the third quarter of $10.7 billion or $1.85 per share, compared to $7.7 billion or $1.28 per share for the year-ago quarter.

Net sales for the third quarter rose to $49.61 billion from $37.43 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to earn $1.81 per share on revenue of $49.31 billion for the third quarter.

Looking forward to the fourth quarter, the company forecasts revenue of $49 billion to $51 billion and gross margin of 38.5% to 39.5%. Analysts currently expect the company to post revenue of $51.05 billion for the fourth quarter.