Apple reported fourth-quarter earnings on Thursday that beat the expectations for both revenue and earnings but faced disappointment on iPhone sales and China performance.
Earnings per share came in at $1.85 on $102.5 billion in revenue, in contrast to analyst projects of $1.77 and $102.2 billion.
The iPhone revenue totaled $49.03 billion, which is less than the expected figure of $49.3 billion.
Despite the disappointment, the company’s CEO Tim Cook seemed hopeful due to a strong demand on the flagship iPhone 17 lineup.
Cook estimated that the Cupertino-based tech giant’s December quarter will deliver “the best revenue ever for the company and the best ever for iPhone.”
Earlier this week, Apple’s market cap recently skyrocketed to $4 trillion, joining Microsoft, but remained below that of Nvidia.
After the earnings release, Apple’s stock traded slightly declined early Friday, down 0.23% at $270.77.
CFO Kevan Parekh said Apple’s fiscal year set records with $416 billion in total revenue and double-digit EPS growth.
He expressed gratitude towards customers for their unwavering support and greater satisfaction for helping the company’s active device base hit an all-time high across all categories.
The iPhone 17 lineup brought design upgrades to the Pro models and replaced the Plus model with the iPhone Air, a thinner, lighter alternative. Since the phones were only available for a few weeks in Q4, Apple expects stronger results in Q1 2026.
