Apple has posted its fourth-quarter results. Although the company did well, it didn't beat analyst expectations in terms of devices sold, so investors have made the share price fall slightly in after-hours trading.
Here's the financial stuff: Apple posted $51.5 billion in revenue and $11.1 billion in profit, or $1.96 per share, which is above Wall Street's forecast of $51.12 in revenue and $1.88 per share in profit. It's also above what Apple reported during last year's Q4: $42.12 billion and earnings of $1.42 per share.
Profit is therefore up 31 per cent year over year. Now, as far as the device numbers go, the latest iPhone released toward the end of the period, which closed on 26 September. Apple sold 13 million iPhone 6S units during the opening weekend, as well as 48.04 million total iPhone units in the quarter, so phone sales are up 36 per cent year over year.
iPhone shipments in China spiked 87 per cent from the previous year, according to Tim Cook, Apple's CEO. He said Apple saw its highest-ever rate of users switching from Android devices. Apple also sold 5.71 million Macs and 8.8 million iPads during the quarter. It broke a record for Macs sold, but iPad sales dipped 20 per cent year over year.
Apple's total iPhone sales surpassed 39.27 million units from a year earlier but fell short of analysts’ estimates of 48.72 million units in the quarter. Analysts had also pegged about 9.5 million iPad units and around 5 million Watch units would sell during the quarter, meanings the company missed expectations in all three categories.
Although the Apple Watch launched earlier this year, the company has yet to disclose exact shipment numbers. During a recent conference, Cook would only say: "We shipped a lot the first quarter, then last quarter we shipped even more. And I can predict this quarter we will ship even more."
Apple shares plummeted 8 per cent since the day after its last quarterly results in July. Tune into the company's conference call at 2 pm PST to hear executvies discuss the results in more detail.
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