All eyes were on the tech world this week as Apple closed a string of disappointing results from Google, Meta and Amazon. But Apple managed to break the trend with another record quarter. For its fiscal fourth quarter, the company posted revenue of $90.1 billion, up 8 percent year over year, and quarterly earnings per diluted share of $1.29, up 4 percent year over year.
The quarter was supported by the two largest categories: the iPhone and Mac. Apple enjoyed an extra week of iPhone 14 sales thanks to an earlier release (although that didn’t include the new iPhone 14 Plus, which arrived on October 7). iPhone sales came in at just under $43 billion, up 10 percent from last year, and Mac sales grew to $11.5 billion from $9.2 billion last year.
Wearables, including early sales of the Apple Watch Series 8, also had a big month, with sales of $9.7 billion, up about 10 percent from last year. This is how the quarter ended for Apple:
iPhone: $42.6 billion
iPad: $7.2 billion
Mac: $9.2 billion
Portable: $9.7 billion
Services: $19.2 billion
While Services grew last year, it fell from $19.7 billion in the previous quarter. iPads also slumped, dropping 13 percent year-on-year.
Apple declined to provide a forecast for the fourth quarter, and several of its colleagues warned of revenue shortfalls during the all-important holiday season. but there is reason to be hopeful. Two new iPad models and an Apple TV 4K arrived last week, and Macs are expected to launch sometime next month.