Apple beats Wall Street expectations, but iPhone business and services miss

Apple published its financial results for the fourth quarter of the current fiscal. Going against market estimates, the company delivered better revenue and Earnings Per Share (EPS) figures. However, Apple fell short compared to the company’s core product estimates.

Here’s the financial performance of the company –

• Revenue – Expected - $88.90 billion. Actual - $90.15 billion – Performance – Growth of 8.1% YoY
• Earnings Per Share – Expected - $1.27. Actual - $1.29
• Mac Revenue – Expected - $9.36 billion. Actual - $11.51 billion – Performance – Growth of 25.39% YoY
• iPhone Revenue – Expected - $43.21 billion. Actual - $42.63 billion – Performance – Growth of 9.67% YoY
• iPad Revenue - Expected - $7.94 billion. Actual - $7.17 billion – Performance – Decline of 13.06% YoY
• Revenue from Services- Expected - $20.10 billion. Actual - $19.19 billion – Performance – Growth of 4.98% YoY
• Revenue from other products - Expected - $9.17 billion. Actual - $9.65 billion – Performance – Growth of 9.85% YoY
• Gross margin – Expected – 42.1%. Actual – 42.3%
Apple however did not provide official news for its first fiscal quarter, which ends in December Incidentally, December is also Apple’s biggest sale season. It hasn’t provided guidance since 2020, citing uncertainty.

Apple came up short versus analyst expectations, but its overall iPhone sales increased by over 9% on an annual basis.

FAQs

• What is the name of Apple’s stock on the stock market?
Apple Inc’s stock is traded as AAPL on the stock exchange.

• Is Apple listed in India?
No, Apple is not listed in India.

• Which is the latest iPhone model launched by Apple?
The latest iPhone model is the iPhone 14.