#Apple #Nets #Record #SeptemberQuarter #Revenue #Profit #Shy #Estimates
Apple (AAPL) reported fiscal fourth-quarter results after the bell on Thursday that beat analysts’ revenue expectations but missed on earnings.
The iPhone maker posted record revenue in the September period of $94.93 billion, up 6% year over year and above the $94.58 billion consensus estimate of analysts surveyed by Visible Alpha.
Net income was $14.74 billion, or 97 cents per share, below expectations of $22.49 billion, or $1.48 per share. After excluding a one-time income tax charge of $10.2 billion to reflect the impact of the reversal of the European General Court’s state aid ruling, adjusted EPS came to $1.46.
Apple generated $46.22 billion in iPhone revenue, higher than expectations of $45.32 billion. However, the iPhone 16’s September 20 release date came with less than two weeks left in the quarter, meaning the bulk of that came from the iPhone 15 and earlier models.
Analysts eye iPhone 16 numbers
The findings come as the company rolls out Apple Intelligence features, including a free iOS update for the iPhone 16 and other devices released on Monday.
The clearest picture for iPhone 16 sales will come next quarter, with the bull case being an “AI-driven supercycle,” analysts at Wedbush wrote. The company estimates that about 300 million iPhones globally are not updated.
Apple shares fell more than 1% in extended trading. They were up 17% this year as of Thursday’s close.
#Apple #Nets #Record #SeptemberQuarter #Revenue #Profit #Shy #Estimates
