Apple Inc’s ‘iPad Mini 2’ loses $50 million to $60 million in sales in U.S.

Apple Inc ( AAPL ) reported second-quarter profit that fell short of Wall Street estimates, but analysts said the sales numbers showed the company’s iPad Mini 2 had a healthy holiday quarter.The company reported second quarter profit of $4.1 billion, or $1.04 per share, beating analysts’ forecasts of $1 billion to $1,091 million.Analysts were expecting…

Published by admin inOctober 26, 2021
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Apple Inc ( AAPL ) reported second-quarter profit that fell short of Wall Street estimates, but analysts said the sales numbers showed the company’s iPad Mini 2 had a healthy holiday quarter.

The company reported second quarter profit of $4.1 billion, or $1.04 per share, beating analysts’ forecasts of $1 billion to $1,091 million.

Analysts were expecting $1 trillion in revenue.

Apple shares fell $3.25, or 1.3%, to $155.40 in after-hours trading.

Analyst had been expecting a gain of 4.5%, to close at $164.50.

Analysts had forecast Apple to report third-quarter earnings of $11.6 billion, down from $12.6.

Apple’s share price rose 0.6% to $143.60 in after hours trading.

Analyst expects Apple to record a $4 billion loss for the quarter.