Apple fiscal 4Q earnings beat estimates but iPhone revenue comes up short - Proactive Investors USA

Apple CEO Tim Cook said: "This quarter’s results bespeak Apple’s committedness to our customers, to the pursuit of innovation, and to leaving the satellite amended than we recovered it”

Apple Inc (NASDAQ:AAPL) reported grounds revenue of US$90.1 cardinal for its fiscal 4th fourth 2022, up 8% twelvemonth implicit year, arsenic it accrued income of iPhones and Mac computers, but fell abbreviated of projections.

Apple’s net per stock for the 4th ended September 24 were US$90.15 billion, beating expert expectations of $88.9 billion. Earnings per stock came successful astatine US$1.29, up 4% twelvemonth implicit year, topping the $1.27 per stock expected by analysts.

But iPhone gross came successful at $42.63 billion, up 9.67% year-over-year, but abbreviated of Street expectations of implicit $43.2 billion. The cardinal Services assemblage besides saw a flimsy year-over-year bump to $19.19 billion, again conscionable abbreviated of $20.1 billion expectations.

READ: Amazon.com lowers 4th fourth guidance sending shares down 16%

Apple CFO Luca Maestri said September’s results proceed to show the company’s quality to execute efficaciously successful spite of a challenging and volatile macroeconomic backdrop.

"We continued to put successful our semipermanent maturation plans, generated implicit $24 cardinal successful operating currency flow, and returned implicit $29 cardinal to our shareholders during the quarter. The spot of our ecosystem, unmatched lawsuit loyalty, and grounds income spurred our progressive installed basal of devices to a caller all-time high. This 4th capped different record-breaking twelvemonth for Apple, with gross increasing implicit $28 cardinal and operating currency travel up $18 cardinal versus past year," Maestri said successful a statement.

Mac gross was $11.51 billion, up 25.39% year-over-year. On the different hand, iPad revenue of $7.17 cardinal was down 13.06% year-over-year.

Apple CEO Tim Cook said: "This quarter’s results bespeak Apple’s committedness to our customers, to the pursuit of innovation, and to leaving the satellite amended than we recovered it.”

Apple shares were trading astatine US$144, down by 3% aft the closing bell.

Contact the writer astatine susie@proactiveinvestors.com