the apple revenue rose 6% in its fiscal fourth quarter as iPhone sales rose and the company saw growth in all of its business units except the category that includes wearables.
Sales for the three months ended Sept. 28 rose year-over-year to $94.9 billion, beating Wall Street estimates of $94.6 billion, Apple reported Thursday. Sales of Apple’s flagship iPhone rose 5.4% to $46.2 billion, reversing two consecutive quarters of declining sales. Apple launched its new iPhone 16 in September, meaning only one week’s worth of sales were included in its quarterly results.
Apple CEO Tim Cook said in a conference call that iPhone sales set a record for September revenue, with growth across all geographic segments.
Apple’s net income fell 35% from the year-ago period to $14.7 billion, or 97 cents per share, due to a “tax charge related to the impact of the reversal of the State Aid rulings of the European High Court.” Excluding the charge, Apple said its EPS would be $1.64. Analysts had expected EPS of $1.60.
Apple shares initially bounced between positive and negative territory after the earnings report, but then settled down between 1% and 2% to around $224 per share.
Mac computers saw a 1.3% increase in sales to $7.7 billion, while iPad sales rose 7.8% to $6.9 billion.
The only Apple business category to decline in the quarter was the wearables, home and accessories group, which includes the expensive Apple Watch, AirPods and Apple VisionPro headphones. The unit’s net sales fell 3% year-over-year to $9 billion.
Data sheet: Stay on top of the tech business with in-depth analysis of the industry’s biggest names.
Sign up here.
