The Mac Observer

Skip navigational links

You're viewing an article in TMO's historic archive vault. Here, we've preserved the comments and how the site looked along with the article. Use this link to view the article on our current site:
Apple Announces Revenue and Earnings Shortfall For Quarter

Apple Announces Revenue and Earnings Shortfall For Quarter

by , 8:40 PM EDT, June 18th, 2002

After Tuesday's market close Apple Computer announced that revenues and earnings would be below original estimates by about ten percent. Apple is now estimating revenues for its third fiscal quarter will be between $1.4 billion and $1.45 billion versus the $.16 billion originally estimated. Earnings per share will be between $.08 and $.10 per share versus Apple's April forecast of $.11 per share.

In a Reuters report on the Apple revenue and earnings warning, Fred Anderson, Apple's CFO, indicated that sales in Japan and Europe were particularly hard hit and that Apple's sales shortfall was in line with sales declines in the broader consumer PC business.

In after hours trading Apple's share slid as low as $17.30, but some analysts expect the stock to recover much of the loss on Wednesday, noting the slide may be an overreaction to market realities.

Apple issued the warning after Father's Day and seasonal graduation gift sales failed to hasten the pace of product sales following the traditionally slow April and May periods.

Check out the new and vastly improved Apple Finance Boards, a moderated forum for Apple Investors and people who are interested in Apple's financial dealings!

For full quotes on all the companies mentioned in this article, we have assembled a set of stock quotes at Yahoo! for your reference. For other stories regarding Apple's stock activity, visit our updated Apple Stock Watch Special Report.

Recent TMO Headlines - Updated May 23rd

Tue, 6:10 PM
How to Use New 1Password Travel Mode to Protect Your Data
Tue, 6:05 PM
There's a $399 3D Printer on Kickstarter
Tue, 4:59 PM
No PC Maker Can 'Go After' Apple MacBooks with Good Design
Tue, 4:27 PM
Samsung Galaxy S8 Iris Scanner Already Hacked
Tue, 3:00 PM
iOS 10: Disabling Slack Indexing Might Improve Spotlight Search - Here's How to Do It
Tue, 2:11 PM
Soverin Secure Email 1-Year Subscription: $10
Tue, 1:46 PM
IKEA Says Hello to HomeKit, Apple's Diversity Boss, Huawei Targets the MacBook - TMO Daily Observations 2017-05-23
Tue, 10:22 AM
IKEA is Making HomeKit Smart Lights Affordable for Everyone
Tue, 9:14 AM
Apple and Nokia Reach Agreement in Patent Licensing Dispute
Mon, 6:41 PM
Supreme Court Just Killed Marshall Texas Patent Troll Business
Mon, 6:00 PM
Apple Plans to Change Scrolling in Safari
Mon, 5:27 PM
The Good That Has Come Out of Apple's Mac Lapses
  • __________
  • Buy Stuff, Support TMO!
  • Podcast: Mac Geek Gab
  • Podcast: Apple Weekly Report
  • TMO on Twitter!