Apple beats by $0.07; revs slightly ahead of consensus; iPhones and services top expectations, while Macs miss expectations (177.57 +3.60)
- Reports Q4 (Sep) earnings of $1.46 per share, $0.07 better than the FactSet Consensus of $1.39; revenues fell 0.7% year/year to $89.5 bln vs the $89.34 bln FactSet Consensus.
- Apple reports Q4 iPhone revenue of $43.8 bln vs. $43.4 bln and $42.6 bln last year.
- Apple reports Q4 Mac revenue of $7.6 bln vs. $8.8 bln and $11.5 bln last year.
- Apple reports Q4 iPad revenue of $6.4 bln vs. $5.9 bln and $7.2 bln last year.
- Apple reports Q4 wearables revenue of $9.3 bln vs. $9.2 bln and $9.7 bln last year
- Apple reports Q4 services revenue of $22.3 bln vs. $21.6 bln and $19.2 bln last year.
CEO Tim Cook told CNBC that iPhone 15 Pro and iPhone 15 Pro Max are still constrained because of high demand. Mr. Cook said he is optimistic about Mac business for holiday quarter.
"Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services," said Tim Cook, Apple's CEO. "We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup and our first carbon neutral Apple Watch models, a major milestone in our efforts to make all Apple products carbon neutral by 2030." "Our active installed base of devices has again reached a new all-time high across all products and all geographic segments, thanks to the strength of our ecosystem and unparalleled customer loyalty," said Luca Maestri, Apple's CFO. "During the September quarter, our business performance drove double digit EPS growth and we returned nearly $25 billion to our shareholders, while continuing to invest in our long-term growth plans."
"Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services," said Tim Cook, Apple's CEO. "We now have our strongest lineup of products ever heading into the holiday season, including the iPhone 15 lineup and our first carbon neutral Apple Watch models, a major milestone in our efforts to make all Apple products carbon neutral by 2030." "Our active installed base of devices has again reached a new all-time high across all products and all geographic segments, thanks to the strength of our ecosystem and unparalleled customer loyalty," said Luca Maestri, Apple's CFO. "During the September quarter, our business performance drove double digit EPS growth and we returned nearly $25 billion to our shareholders, while continuing to invest in our long-term growth plans."
Apple earnings conference call update; co guides Q1 (Dec) revenue below expectations
- Q1 (Dec) Outlook: The company expects revenue to be similar to last year (Q1 FY23 actual was $117.2 bln; Q1 FY24 FactSet consensus is $123.3 bln) ; expects iPhone revenue to grow yr/yr; expects Mac and iPad performance to accelerate qtr/qtr. The company expects strong double digit rate of growth in services; expects gross margins between 45-46%
- The company achieved all time record for revenue in India.
- The company faced F/X headwinds in the September quarter.
- 66% of college students are choosing a Mac.
- Subscriptions to Major League Soccer season pass have exceeded expectations.
- F/X had negative impact of 2 percentage points. Expects negative 1% impact from F/X for FY23.
- Americas had September quarter record.
- The company has 1 billion paid subs across its services.