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Update: Apple Shares Fall After Fiscal Q3 Results

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(Updates with the latest stock move in the headline and in the first paragraph, outlook commentary in the seventh and the eighth paragraphs.)

Apple (AAPL) shares were down 9.5% in Friday trading after the company reported its fiscal Q3 results late Thursday.

The company posted quarterly earnings of $2.02 per diluted share, up from $1.57 a year earlier.

Analysts polled by FactSet expected $1.89.

Revenue for the three months ended June 27 was $109.42 billion, up from $94.04 billion a year earlier.

Analysts expected $109.04 billion.

The company maintained its quarterly dividend at $0.27 per share, payable Aug. 13 to stockholders of record Aug. 10.

Looking ahead, Apple expects its September quarter total company revenue to increase by 9% and 11% year-over-year, with impact from supply constraints to "increase significantly" sequentially, according to the company's quarterly earnings call late Thursday.

For iPhone, the company sees continued "high levels" of demand, estimating the growth to be mid-teens year-over-year for the September quarter. Apple added that it does not expect iPhone revenue to be impacted by foreign exchange headwinds and supply constraints, according to the call.

Price: $301.73, Change: $-31.71, Percent Change: -9.51%

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