Apple tops revenue estimates, misses on iPhone, iPad net sales
Fourth-quarter earnings came in at $1.29 per share, two cents above analyst estimates
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Apple on Thursday topped estimates on fourth-quarter revenue and earnings per share while its net sales for a few of its main operating segments missed them.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AAPL | APPLE INC. | 239.59 | +2.26 | +0.95% |
The iPhone maker posted $90.1 billion in fourth-quarter revenue, beating the $88.90 billion estimated by Refinitiv analysts and rising 8% from the same period last year.
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Net income came in at $20.72 billion, compared to $20.55 billion a year ago. According to Apple, the fourth-quarter earnings per share was $1.29, two cents above analyst estimates.
"Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop," Apple CFO Luca Maestri said in a statement.
Apple CEO Tim Cook (Getty Images / Getty Images)
Apple on Thursday topped estimates on fourth-quarter revenue and earnings per share while its net sales for a few of its main operating segments missed them. (Reuters/Brendan McDermid/File / Reuters Photos)
Apple’s net sales for three of its operating segments – iPhone, iPad and services – were below estimates.
The company reported $42.63 billion in fourth-quarter iPhone net sales, slightly lower than analysts’ estimate of $43.21 billion. This year’s fourth-quarter iPhone net sales rose from the same period in 2021, when it reported $38.87 billion for the segment.
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IPad net sales for the fourth quarter were $7.17 billion, compared to the $7.94 billion estimated by analysts. They were down from $8.25 billion in the same quarter last year.
The company said $19.19 billion in net sales were generated by its services segment. Analysts had estimated Apple would report $20.10 billion.
Apple’s Mac net sales were $11.51 billion, while its wearables, home and accessories net sales were $9.65 billion. Both topped what analysts were anticipating for the quarter. (Reuters/Mike Segar/File / Reuters Photos)
Apple’s Mac net sales were $11.51 billion, while its wearables, home and accessories net sales were $9.65 billion. Both topped what analysts were anticipating for the quarter.
"This quarter capped another record-breaking year for Apple, with revenue growing over $28 billion and operating cash flow up $18 billion versus last year," Maestri said.
For Apple's fiscal year, the company reported $394.3 billion in revenue, an 8% increase on the prior year.