Apple Inc. on Thursday announced its financial results for the fourth fiscal quarter, reporting record revenue for its iPhone and services divisions but providing a sales forecast for the critical holiday quarter that fell below some analyst expectations. The guidance was delivered during the company’s quarterly earnings call with investors and analysts.
For the fourth quarter, which ended Sept. 30, Apple reported total revenue of $89.5 billion, a slight decrease from the $90.1 billion reported in the same period last year. The company announced quarterly earnings per diluted share of $1.46.
Revenue from iPhone sales reached $43.81 billion for the quarter, a record for the September quarter and an increase from the previous year. Apple’s services division, which includes the App Store, Apple Music, and iCloud, also set an all-time revenue record at $22.31 billion.
However, sales in other product categories saw declines. Mac revenue was $7.61 billion, a significant drop from $11.51 billion in the year-ago quarter. iPad revenue also decreased to $6.44 billion from $7.17 billion. Company executives attributed the decline in Mac and iPad sales to challenging year-over-year comparisons with the previous year’s product launch cycles.
Looking ahead to the first fiscal quarter, which includes the holiday shopping season, Apple Chief Financial Officer Luca Maestri stated that the company expects total revenue to be “similar” to the $117.2 billion reported in the same quarter last year. This guidance was viewed as cautious, as analyst consensus compiled by financial data firm LSEG had anticipated revenue of $122.98 billion for the period. Apple has not provided formal numerical revenue guidance since 2020, citing market uncertainty.
During the call, CEO Tim Cook addressed the performance and the recent launch of the iPhone 15 lineup. “We have the strongest lineup of products and services we’ve ever had heading into the holiday season, including the iPhone 15 lineup,” Cook said.
He also noted that supply constraints for the high-end iPhone 15 Pro and iPhone 15 Pro Max models were ongoing, though the supply and demand for the standard iPhone 15 models were in equilibrium.
Following the release of the earnings report and the company’s forecast, Apple shares declined in after-hours trading.
