Apple posts $7.7 billion in profit, but all eyes look to new products in the fall

See the original posting on The Verge

In what can only be described as the typical lull for Apple ahead of new fall product launches, the company’s reported earnings that beat its own expectations, but fell just shy of Wall Street’s. Helping once again though was the nearly 10-month-old iPhone.

Apple just reported earnings of $1.28 per share, on revenue of $37.4 billion. Wall Street was expecting the company to announce earnings of $1.23 a share, on $37.99 billion in revenue, according to a poll of estimates compiled by Yahoo. The results come on the short side of what Wall Street was expecting in terms of revenue, but are right in the middle of Apple’s own revenue forecast, which was between $36 and $38 billion. If those earnings per share numbers seem a lot smaller, it’s…

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