Shares of Apple (NASDAQ:AAPL) are falling from the all-time high tree. Shares are down more than 5% in late trading after the tech giant reported its first earnings miss since 2004. Net income for Apple Inc. rose to $6.62 billion ($7.05 per share) vs. $4.31 billion ($4.64 per share) in the same quarter a year earlier. This marks a rise of 53.7% from the year earlier quarter. Apple fell short of the mean analyst estimate of $7.30 per share. It also fell short of the average revenue estimate of $29.45 billion.
Investing Insights: Apple Inc. Earnings Cheat Sheet: Revenue Strengthens Again by Double-Digits.
Intel Corporation (NASDAQ:INTC) is 4.6% higher in late trading after reporting a 17% increase in earnings. The company reported a third-quarter profit of $3.47 billion (65 cents per share), compared to a profit of $2.96 billion (52 cents per share) last year.
Yahoo! (NASDAQ:YHOO) shares are up 3% after the closing bell as the company releases better-than-expected earnings. The internet portal reported a third quarter profit of $293 million (23 cents per share). The street was only expecting about 17 cents per share. “We’re pleased that revenue, operating income and EPS were all above consensus this quarter,” said Tim Morse, CFO and Interim CEO,Yahoo!. “My focus, and that of the whole company, is to move the business forward with new technology, partnerships, products, and premium personalized content — all with an eye toward growing monetization.”
Investing Insights: Yahoo Inc Earnings: Jumping Over a Low Bar, Shares Pop.
Intuitive Surgical, Inc. (NASDAQ:ISRG) is popping nearly 7% in extended trading. The robotic medical play reported a 41% surge in quarterly profits from last year. Net income came in at $122.4 million ($3.05 per share), compared to $86.6 million ($2.14 per share) last year.
Despite a 11% increase in sales, shares of CSX Corporation (NYSE:CSX) are down more than 2% in late trading. The railroad company reported a third quarter profit of $464 million (43 cents per share), an increase from last year’s $414 million (36 cents per share). Analysts polled by FactSet Research were looking for $2.97 billion in sales. CSX competes with Union Pacific Corp (NYSE:UNP) and Norfolk Southern Corp (NYSE:NSC).