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.
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.”