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


In what can only be described as the typical lull for Apple ahead of new fall product launches, the companys reported better than expected third quarter earnings, thanks once again to the iPhone. Apple just reported earnings of $1.28 per share, on revenue of $37.4 billion. The results come on the short side of what Wall Street was expecting in terms of revenue, but are right in the middle of Apples own revenue forecast, which was between $36 and $38 billion. If those earnings per share numbers seem a lot smaller, its because of a seven-for-one stock split that went into effect last month.

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