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
Apple may be raising prices over Corning warning: Krosby
LPL Financial chief equity strategist Quincy Krosby reacts to Apple glass supplier Corning saying smartphone and tablet sales slowed down this quarter on "The Claman Countdown."
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. | 169.30 | -0.59 | -0.35% |
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.
APPLE GETS EXCLUSIVE SMART DOOR LOCK MADE FOR IPHONE OR APPLE WATCH USERS
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.
APPLE TO OFFER GOLDMAN SACHS SAVINGS ACCOUNTS TO APPLE CARD HOLDERS
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.