Apple's record revenues fall short of expectations

Apple posted record revenues for the last three months of 2012 but still managed to fall short of market expectations.

Apple
Apple's growth has stalled. Credit: Stefan Rousseau/PA Wire

The computer giant's rocket-like growth stalled with earnings of £8.2 billion remaining flat compared to the year before - marking the first time the technology company had not boasted double-digit increases in earnings for years.

Revenue from October 1 to December 31 last year came in at a record £34.4 billion ($54.5 billion) but fell short of the $55 billion forecast by Wall Street.

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Apple shares slump 12%

Apple's shares have slumped 12% after as figures for the Christmas period showed its rocket-like growth had continued to stall.