Apples’ earnings are being announced today after the bell which are most likely going to blow away estimates. Business Insider wrote about how Apple always lowballs earnings guidance.

Apple is known for dramatically lowballing its profit guidance, and then miraculously blowing out “expectations.”

Since Sept. 2006, Apple has topped its quarterly EPS guidance by an average 41%, and its revenue guidance by an average 9%.

Read more: http://www.businessinsider.com/chart-of-the-day-apples-real-earnings-expectations-2010-10#ixzz12k6KCb1K

Apple is expected to post earnings of $4.08 a share on revenue of $18.9 billion, according to Thomson Reuters I/B/E/S.

UPDATE: Apple 4Q net income soars 70 percent and earned $4.3 billion, or $4.64 per share.