Scroll down for video Apple's revenue and profits slid for the first time in more than a decade, but investors seemed happy with the quarterly results, as they still managed to beat Wall Street's expectations. Shares of the maker climbed 5.5 percent in after-hours trading on Tuesday APPLE IN NUMBERS Share this article Share 2.7k shares Apple said it expects revenue between $55 billion and $59 billion for the current quarter ending in March, largely below analysts' average estimate of $58.83 billion Cook shocked Wall Street earlier this month when he warned the company was lowering its revenue expectations for the all-important holiday quarter due to slowing sales WHAT DID CEO TIM COOK SAY ABOUT APPLE'S RARE REVENUE WARNING? Lower than anticipated revenue, primarily in Greater China, accounts for all of our revenue shortfall to our guidance and for much more than our entire year-over-year revenue decline. In fact, categories outside of (Services, Mac, iPad, Wearables/Home/Accessories) combined to grow almost 19 percent year-over-year.While Greater China and other emerging markets accounted for the vast majority of the year-over-year revenue decline, in some developed markets, upgrades also were not as strong as we thought they would be. While macroeconomic challenges in some markets were a key contributor to this trend, we believe there are other factors broadly impacting our performance, including consumers adapting to a world with fewer carrier subsidies, US dollar strength-related price increases, and some customers taking advantage of significantly reduced pricing for battery replacements.Also, as I mentioned earlier, revenue outside of our business grew by almost 19 percent year-over-year, including all-time record revenue from Services, Wearables and Mac. Our non- businesses have less exposure to emerging markets, and the vast majority of Services revenue is related to the size of the installed base, not current period sales. Cook said Apple is rethinking how it prices the outside the United States after largely setting the price in U.S. dollars, which made the phones more expensive in local currencies.'When you look at foreign currencies and then particularly those markets that weakened over the last year those ( price) increases were obviously more,' Cook told Reuters.
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