Apple’s revenue rose 6% in its fiscal fourth quarter, as iPhone sales rebounded and the company reported growth in all of its business units except the wearables category.
Apple reported Thursday that total sales in the three months ended Sept. 28 rose year-over-year to $94.9 billion, slightly above Wall Street estimates of $94.6 billion. Sales of Apple’s most important iPhone rose 5.4% to $46.2 billion, reversing two straight quarters of declining sales. Apple released the new iPhone 16 in September, meaning only one week’s worth of sales were included in the quarter’s results.
iPhone sales hit a revenue record in September, with growth in every geographic segment, Apple CEO Tim Cook said on a conference call.
Apple’s net income fell 35% from the same period last year, to $14.7 billion, or 97 cents per share, due to a one-time tax charge “related to the impact of the reversal of the European General Court’s state aid ruling.” Apple said that excluding fees, earnings per share would have been $1.64. Analysts had expected earnings per share to reach $1.60.
Apple shares initially bounced between positive and negative territory after the earnings report, but then settled down between 1% and 2%, to approximately $224 per share.
Mac computers had a 1.3% increase in sales to $7.7 billion, while iPad sales grew 7.8% to $6.9 billion.
Apple’s only business category to decline in the quarter was its wearables, home and accessories group, which includes the Apple Watch, AirPods and the pricey Apple VisionPro headphones. Unit net sales fell 3% year over year to $9 billion.
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