Apple sees sales slump continue in Q1

Apple reported first-quarter sales below analysts’ predictions, adding fuel to investor pessimism that has sent shares down 27% since September.

Profit was little changed at $13.1bn (€9.8bn), or $13.81 a share, in the period that ended Dec 29, Apple said in a statement last night. Sales rose 18% on the same period in the previous year to $54.5bn.

Analysts had predicted profit of $13.53 a share on revenue of $54.9bn, according to a Bloomberg average of estimates.