Apple Inc. (AAPL) revealed its fourth-quarter earnings on Thursday, surpassing expectations in both earnings and revenue, although it did not quite meet the forecast for iPhone sales. The company achieved a record fiscal year, with total revenue reaching $416 billion and a commendable double-digit growth in earnings per share (EPS), which stood at $1.85 for the quarter.
CFO Kevan Parekh expressed pride in the company’s performance, noting, “Our September quarter results capped off a record fiscal year.” He also highlighted that the installed base of active devices has reached an all-time high across all product categories and geographies due to high customer satisfaction and loyalty.
This earnings report coincides with Apple’s market capitalization surpassing $4 trillion, joining the ranks of Microsoft and Nvidia, which recently crossed this threshold. Microsoft has dipped below $4 trillion, while Nvidia continues to soar, currently valued at over $5 trillion.
For the fourth quarter, Apple reported revenue of $102.5 billion, compared to analysts’ expected revenue of $102.2 billion. However, its flagship iPhone business generated $49.03 billion, slightly below the anticipated $49.3 billion. The new iPhone 17 lineup, featuring notable enhancements including design improvements in the iPhone 17 Pro and Pro Max, has recently been released, though its financial impact during the quarter is limited due to the short sales window.
Apple’s Services segment, which is the second-largest revenue driver after the iPhone, reported $28.7 billion—exceeding analyst expectations of $28.2 billion. Additionally, revenue from the iPad and Mac segments amounted to $6.95 billion and $8.73 billion, respectively, while the wearables segment also contributed significantly with $9 billion in revenue.
With such impressive results, Apple is well-positioned for continued growth in the upcoming fiscal year. The company’s strong sales across various segments, alongside the introduction of new products, suggests a promising trajectory for its market performance moving forward.