Apple iPad 2
Despite announcing huge profits, it was the first quarter in years that Apple has failed to match analysts' expectations

Apple has announced its financial results for the fourth fiscal quarter in 2011, and despite huge profits they slipped below analysts' expectations.

The company posted revenue for the quarter of $28.27 billion, compared to $20.34 billion in the same quarter last year.

This left Apple on $7.05 per diluted share, below analysts' predictions of $7.31 and said to be the first time Apple has failed to match the sky-high expectations.

Apple sold 17.07m iPhones in Q4, representing a 21% growth compared to the same period last year.

While Apple iPad sales hit 11.1 million, an increase of 166% year-on-year, iPod sales were down 27% to 6.62m.

More after the break

With the new iPhone 4S selling faster than any previous Apple product – 4 million units over the first weekend – it looks set to be a bumper first fiscal quarter of 2012.

Peter Oppenheimer, Apple’s CFO, said: “Looking ahead to the first fiscal quarter of 2012, which will span 14 weeks rather than 13, we expect revenue of about $37 billion and we expect diluted earnings per share of about $9.30.”

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