Apple’s fiscal fourth quarter earnings have been released, Apple’s revenues of $46.9 billion are in lne with the modest expectations of analysts; earnings per share of $1.67 beat expectations. However, the company has reported their first YoY revenue decline since the iPhone was first introduced.
Revenues were off nearly $9 billion vs. last year. The stock is down in after-hours trading.
Apple’s top markets included the Americas, Europe and Greater China, in that order. All of Apple’s hardware sales were down YoY. Here’s the company’s product sales figures:
- iPhones: 45.5 million units, $28.1 billion in revenue (off versus expectations)
- iPad: 9.3 million units, $4.2 billion in revenue (off versus expectations)
- Macs: 4.8 million units, $5.7 billion in revenue (off versus expectations)
- Services (including Apple Pay, Apple Care): $6.3 billion in revenue
- Other (including Apple TV, Apple Watch, Beats products): $2.4 billion in revenue
Tim Cook, Apple’s CEO, has indicated that iPhone 7 demand was quite strong and that it was outstripping supply. He promised that the company’s revenue growth would return to normal in fiscal Q1.