Apple today posted its earnings report for the recent September quarter. When the dust settled, the company posted revenue of $94.9 billion and EPS of $1.64. As a point of comparison, Apple during the same quarter last year posted revenue of $89.5 billion and earnings of $1.46 per share. It is worth mentioning that Apple’s quarterly EPS is always amplified by the company’s ongoing and rather massive stock buyback program.
As a reference point, analysts were anticipating Apple to deliver revenue in the $94 billion range and EPS of about $1.60. All told, it appears to be another solid quarter for the iPhone maker.
“Today Apple is reporting a new September quarter revenue record of $94.9 billion, up 6 percent from a year ago,” Tim Cook said in a press release. “During the quarter, we were excited to announce our best products yet, with the all-new iPhone 16 lineup, Apple Watch Series 10, AirPods 4, and remarkable features for hearing health and sleep apnea detection. And this week, we released our first set of features for Apple Intelligence, which sets a new standard for privacy in AI and supercharges our lineup heading into the holiday season.”
Ahead of Apple’s earnings report, there was a lot of chatter and speculation surrounding iPhone 16 sales. Especially in the wake of Apple introducing Apple Intelligence, many analysts a few months back were anticipating a huge bump in iPhone sales following Apple taking a big swing in the AI space. More recently, though, we’ve seen reports of Apple scaling back iPhone 16 orders amid lower-than-expected demand.
To that end, revenue from iPhone sales for the quarter checked in at $46.2 billion. During the same quarter a year ago, iPhone-based revenue came in at $43.8 billion.
It is worth noting that Apple’s iPhone 16 went on sale on September 20. In other words, it was only available for about a week during the entire quarter. Naturally, we’ll have to see how iPhone revenue does during the holiday quarter to truly gauge how iPhone 16 demand is doing.
With respect to Apple’s other products, Mac-based revenue for the year came in at $7.7 billion compared to $7.6 billion last year. iPad revenue checked in at $6.9 billion compared to $6.4 billion last year. Meanwhile, revenue from Apple’s Wearables, Home and Accessories division came in at $9.04 billion, down a bit from $9.3 billion in the same quarter a year ago.
Lastly, Apple’s ever-growing Services empire saw its quarterly revenue grow from $22.3 billion last year to $24.9 billion in the current quarter.
It’s also worth noting that revenue increased across all geographic regions, save for Greater China. Still, quarterly revenue from China for the quarter was $15.03 billion compared to $15.08 in the same quarter a year ago.
Shares of Apple are down about 4 points in after-hours trading.
Developing…
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Apple posts record-breaking Q4 earnings as revenue hits $94.9 billion originally appeared on BGR.com on Thu, 31 Oct 2024 at 16:33:37 EDT. Please see our terms for use of feeds.