Apple misses estimates but still intrigues

week in review Apple disappoints Wall Street, as it unleashes Mountain Lion and entices eager iPhone 5 customers. Also this week: Netflix and Zynga shares tank and down goes Twitter.

Apple disappointed Wall Street this week but enticed iPhone 5-eager consumers.

During its third fiscal quarter, which ran through June 30, Apple reported revenue of $35 billion and earnings of $8.8 billion, or $9.32 per share. Wall Street was expecting Apple to pull in earnings of $10.35 a share on revenue of $37.2 billion.

Apple sold 26 million iPhones during the quarter, which was down from the 29 million Wall Street expected, though up 28 percent from the same quarter last year. Apple broke its previous sales record of 15.43 million iPads, selling 17 million units -- an 84 percent increase over the 9.25 million sold during the same quarter last year.

Apple's Cook hints at upcoming iPhone 5... or something

CEO Tim Cook didn't flatly rule out the possibility of a fall product transition, noting that there's "incredible anticipation out there for a future product."
•  What's next for Apple? All eyes on the holidays
•  Apple nabs 68 percent of tablet market in second quarter

<b>OS X Mountain Lion officially available for $19.99

The latest version of Apple's desktop operating system is now available for download in the company's Mac App Store.
&#149;&nbsp; Apple quietly pulls Lion amid Mountain Lion launch
&#149;&nbsp; Updates to iWork, iMovie, and iPhoto follow Mountain Lion release
&#149;&nbsp; Bought a Mac after June 10? Get a free upgrade to Mountain Lion
&#149;&nbsp; How to create an OS X 10.8 Mountain Lion install drive

More headlines

<b>Facebook earnings match estimates; 955 million users

Facebook posted a net loss of $157 million on revenue of $1.2 billion. The stock was down in after-hours trading.
&#149;&nbsp; Zuck says Facebook phone 'won't make much sense'
&#149;&nbsp; Zuckerberg to Wall Street: No need to unfriend us yet
&#149;&nbsp; Facebook by the numbers: Mixed bag

<b>Twitter apologizes, blames data center failures for outage

The company said that a coincidental failure of two parallel data center system left people without the micro-blogging service.
•  The cost of Twitter downtime
&#149;&nbsp; Is Twitter up to the Olympic challenge?

<b> Ex-FBI agent to hackers: You need to 'step up' against cyberattacks

Former bureau official says hackers working for corporations have a duty to defend all the U.S. networks.
&#149;&nbsp; Watching the crooks: Researcher monitors cyber-espionage ring
&#149;&nbsp; Hotel cardkey locks said to be vulnerable to bypass hack
•  How to stay safe at Black Hat, Defcon
•  More from Black Hat/Defcon

<b> Zynga earnings disappoint, stock tanks

The social gaming company had revenue of $332 million for the quarter ending June 30, well below the analyst forecast of $344.8 million.
&#149;&nbsp; Zynga's big collapse: Is the social-gaming fun over?

<b>Netflix Earnings: Investors worry about Netflix subscriber growth

The video rental service returns to profitability but sees a drop-off in profits and cautions that it may not meet its full-year target for 7 million new domestic subscribers.
&#149;&nbsp; Why isn't Netflix adding subscribers like it once did?
&#149;&nbsp; Netflix's outlook sends shares down 25 percent

<b>Apple: Samsung, you owe us $2.5B in damages

Battling with Samsung in the U.S. over patent issues, Apple reckons that the amount of damages it's due should come in at a cool $2.5 billion.
&#149;&nbsp; Apple and Samsung fail at making peace in patent war
&#149;&nbsp; Apple brief: Samsung was warned of similarities to iPad, iPhone

<b>Iran wants Facebook's help in fighting porn

Social network will reportedly be helping Iran in its fight against pornography and prostitution.
&#149;&nbsp; Facebook App Center expands to Brazil, Europe, Taiwan
&#149;&nbsp; Facebook opens engineering office in London

<b>Twitter wants to be a bigger part of live events

CEO Dick Costolo tells the Wall Street Journal that the micoblogging site is trying to "more closely tie the shared experience on Twitter to the actual event that is happening."
&#149;&nbsp; Twitter, NBCUniversal to team up for Olympics
&#149;&nbsp; Twitter to release tool that exports users' tweet history

Also of note
&#149;&nbsp; Google, eBay, Facebook, Amazon form lobbying group
&#149;&nbsp; Foursquare aims to turn a buck with 'Promoted Updates'
&#149;&nbsp; Amazon is helping employees get another, unrelated job

 

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