Apple sales rise 6%, company seeing early iPhone 16 demand
Apple reported earnings after the bell. Here are the results.
Apple's fiscal fourth-quarter results beat Wall Street expectations for revenue and earnings per share, but net income slumped after the company paid a one-time charge as part of a tax decision in Europe.
Apple shares fell as much as 2% in extended trading on Thursday.
wait so🤔 they made profit but went down in market?
If you dont meet Wall Street expectations there can be a sell off. That is why long term holders of a stock should ignore the quarter by quarter noise.
they really should ignore it, it darn right unnecessary with this logic
Here's how the iPhone maker did versus LSEG consensus estimates for the quarter ending Sept. 28:
Earnings per share: $1.64, adjusted, versus $1.60 estimated
Revenue: $94.93 billion vs. $94.58 billion estimated
iPhone revenue: $46.22 billion vs. $45.47 billion estimated
Mac revenue: $7.74 billion vs. $7.82 billion estimated
iPad revenue: $6.95 billion vs. $7.09 billion estimated
Other Products revenue: $9.04 billion vs. $9.21 billion estimated
Services revenue: $24.97 billion vs. $25.28 billion estimated
Gross margin: 46.2% vs. 46.0% estimated
Overall iPhone revenue grew 6%, in the first sign of how the iPhone 16 is faring in the market. Apple's newest devices came out Sept. 20, giving Apple about a week of new product sales in the quarter. It's still Apple's most important product, accounting for nearly 49% of the company's overall sales.
Sales of the iPhone 15 were "stronger than 14 in the year-ago quarter, and 16 was stronger than 15," Apple CEO Tim Cook told CNBC's Steve Kovach.
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