Apple’s Quarter Beats On Top And Bottom Line But Services, IPhone Sales Come In Light
deadline.comApple reported a record $90.1 billon in revenue for its fiscal fourth quarter, up 8%, with EPS of $1.29, both better than expected.
The key services sector that includes paid subscriptions to Apple TV+ and Music fell shy of expectations and iPhone sales were a bit light.
Apple stock firmed on the numbers, however, not joining the general tech rout that saw a massive hit to Facebook parent Meta yesterday and Amazon this afternoon.
CFO Luca Maestri said the “record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop.” “This quarter’s results reflect Apple’s commitment to our customers, to the pursuit of innovation, and to leaving the world better than we found it,” said CEO Tim Cook. “As we head into the holiday season with our most powerful lineup ever, we are leading with our values in every action we take and every decision we make.
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