Apple's profit margin down, shares take a hit
We already know that iOS devices had a record-breaking quarter according to Apple's most recent earnings report, but that figure alone isn't enough to impress Wall Street. Unfortunately, while the company dodged a year-over-year loss in overall profit, the company's profit margin took a sizable hit, down 6.1 percentage points to 38.6% from a year earlier.
This, combined with worries that current iPhone sales have flattened off considerably, helped to contribute to an after-hours hit to Apple's stock price. Currently, shares are down just over 10% (roughly 51 points) since trading closed.
Subscribe to Newsletter
Software Updatesmore updates
- NFL Mobile updated for 2014 Season with new Fantasy Football features, NFL Now integration
- Yahoo Mail improves email inbox searching with new filtering options
- Ember for Mac gains 'hugely-requested' screen recording feature
- Spotify update adds equalizer, refreshed Artist page and more
- Fantastical 2.1 for iOS adds new snooze, search and notification features
- ExpanDrive 4, more services and faster sync