Strong iPhone sales fortify Apple's Q4 result

Apple reports Q4 EPS of $2.10, beating consensus by $0.10.
Revenue for Q4 beats consensus by $1.1 billion.
Wearables and iPad revenue fall from a year earlier.

Clay Webster FXStreet

A robust fourth-quarter for Apple's (AAPL) iPhone sales helped the tech titan beat Wall Street's consensus on Monday. Apple reported $57.58 billion in iPhone sales in Q4, beating the average analyst estimate by more than a billion.

However, AAPL stock shed close to 4% afterhours despite the top and bottom line beat. At the time of publishing, Apple stock was trading near $325 after closing above $338.

Apple posted $2.10 in GAAP earnings per share (EPS) in the quarter or about 5% better than expectations. Revenue of $114.48 billion likewise beat the consensus by $1.13 billion, and most of that beat stemmed from iPhone overperformance.

“Today, Apple is proud to report a September quarter revenue record of $114.5 billion, up 12% from a year ago, with iPhone reaching a September quarter record and Services reaching an all-time high, capping off our best fiscal year ever,” said John Ternus, Apple’s new CEO.

iPad and Wearables sales, however, came in a little light. iPad sales were $6.23 billion in the quarter, down from $6.95 billion in the quarter one year ago. Wearables sales fell from $9 billion a year ago to $8.3 billion in Q4.

Greater China revenue jumped 21% YoY to $17.5 billion but below the $18.8 billion consensus estimate.

The Services division witnessed Q4 revenue of $31.6 billion, rising from $28.8 billion one year earlier.

Author

Clay Webster

FXStreet

Clay Webster grew up in the US outside Buffalo, New York and Lancaster, Pennsylvania. He began investing after college following the 2008 financial crisis.

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Strong iPhone sales fortify Apple's Q4 result

A robust fourth-quarter for Apple's iPhone sales helped the tech titan beat Wall Street's consensus on Monday. Apple reported $57.58 billion in iPhone sales in Q4, beating the average analyst estimate by more than a billion. However, AAPL stock shed close to 4% afterhours despite the top and bottom line beat.

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