Apple Inc. Q1 Profit Drops, misses estimates

Apple Inc. (AAPL) released earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $30.00 billion, or $1.88 per share. This compares with $34.63 billion, or $2.10 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.94 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.5% to $117.15 billion from $123.95 billion last year.

Apple Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $30.00 Bln. vs. $34.63 Bln. last year.
-EPS (Q1): $1.88 vs. $2.10 last year.
-Analyst Estimates: $1.94
-Revenue (Q1): $117.15 Bln vs. $123.95 Bln last year.

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