The iPhone maker posted $90.1 billion in fourth-quarter revenue, beating the $88.90 billion estimated by Refinitiv analysts and rising 8% from the same period last year.
IPad net sales for the fourth quarter were $7.17 billion, compared to the $7.94 billion estimated by analysts. They were down from $8.25 billion in the same quarter last year.
The company said $19.19 billion in net sales were generated by its services segment. Analysts had estimated Apple would report $20.10 billion. Apple’s Mac net sales were $11.51 billion, while its wearables, home and accessories net sales were $9.65 billion. Both topped what analysts were anticipating for the quarter.net sales were $9.65 billion. Both topped what analysts were anticipating for the quarter.
"This quarter capped another record-breaking year for Apple, with revenue growing over $28 billion and operating cash flow up $18 billion versus last year," Maestri said. For Apple's fiscal year, the company reported $394.3 billion in revenue, an 8% increase on the prior year.