Apple reported quarterly earnings that crushed expectations. The iPhone maker also posted strong guidance for the current quarter.
For its fiscal fourth quarter, the tech behemoth’s adjusted earnings came in at an $3.03 per share for its fiscal year fourth quarter, exceeding estimates of $2.84. The figure was also +4% year-over-year.
Revenue increased +2% year-over-year to $64.04 billion, also beating estimates of $63.015 billion.
iPhone sales for the quarter turned out to be $33.362 billion, higher than analysts’ expectation of $32.773 billion.
Mac sales came in at $6.991 billion, slightly below expectations. iPad revenue was $4.656 billion. Wearables, Home and Accessories, which includes the Apple Watch, was $6.52 billion, climbing +54% year-over-year.
Services revenue of $12.511 billion exceeded expectations.
For the current quarter, Apple’s revenue guidance ranges between $85.5 billion and $89.5 billion - the midpoint of the range being higher than analyst's expectation of $86.737 billion. The company projects gross margin range of 37.5% to 38.5%, which is higher than analysts' expectations of $37.5%.