Apple earnings see iPhone revenues up, still short of forecast • TechCrunch
Sometimes earnings make you wonder how good enough quality is. Take, for example, Apple’s Q4, which found the iPhone maker beat Wall Street expectations overall but still saw an extended decline in business stocks after iPhone sales improved and could still miss the target.
Revenue was $90.15 billion for the quarter, beating estimates of $88.9 billion and up about 8% during this time last year. iPhone revenue also saw a healthy 9.6% rise thanks to the strength of the new iPhone lineup, although the $42.63 billion figure was below Wall Street’s forecast of $43.21 billion enough to see a dip in late trading.
Macs saw double-digit revenue gains during the quarter, at $11.51 billion. Meanwhile, the always-important services sector saw a (relatively) modest rise year-over-year to $19.19 billion — making it another category that just failed to cross the $20.10 billion mark. iPads, which only Recently saw an update13% more than last year.
The numbers, of course, arrive in the face of significant economic headwinds. in statement“Our record results for the September quarter continue to demonstrate our ability to execute effectively despite a challenging and volatile macro backdrop,” says Chief Financial Officer Luca Maestri.
Meanwhile, Tim Cook took the opportunity to discuss environmental concerns. in Separate interview with CNBCHowever, the Apple CEO addressed inflationary and other issues that held the giant company’s potentially larger overall revenue growth to a halt. “We would have grown by double digits had it not been for the foreign currency headwinds,” Cook explained. Specifically, the company has been hurt by the strength of the US dollar.
He added that the company had joined a number of other tech giants in slowing the overall hiring pace, saying that Apple was doing it instead “deliberately”.