Apple today released its Q4 earnings report and posted revenue of $89.5 billion. The company also posted earnings of $1.46 per share, a figure which, it’s worth noting, gets a little bit of a boost from the company’s ongoing share buyback program.
Ahead of Apple’s earnings report, analysts were anticipating that Apple would post $89.3 billion in revenue and EPS in the $1.39 range. All in all, it wasn’t a blowout quarter for the company, but still impressive that they managed to keep revenue somewhat steady while seeing a slight increase in earnings per share.
To put Apple’s Q4 earnings into perspective, Apple during the same quarter last year posted revenue of $90.1 billion and EPS of $1.29. Incidentally, it’s worth noting that the recent September quarter only included about a week where the iPhone 15 was available. Going back even further, Apple during Q4 or 2021 posted revenue of $83.3 billion.
“Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services,” Tim Cook said in a press release. “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.”
On a product by product basis, iPhone-based revenue came in at $43.8 billion, besting last year’s figure of $42.6 billion.
On the Mac and iPad side, year-over-year revenue took a slight dip. During the recent September quarter, Mac and iPad revenue came in at $7.6 billion and $6.4 billion, respectively. During the same quarter a year-ago, Mac and iPad revenue came in at $11.5 billion and $7.1 billion, respectively.
Revenue from Apple’s wearables, home and accessories division dropped from $9.6 billion to $9.3 billion, year over year. Services revenue, meanwhile, continues to grow. When the dust settled for the quarter, services revenue came at $22.3 billion, up from $19.1 billion in Q4 of 2022.
Looking at geographic segments, revenue remained more or less equal across the board.
“Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop,” Apple CFO Luca Maestri added. “We continued to invest in our long-term growth plans, generated over $24 billion in operating cash flow, and returned over $29 billion to our shareholders during the quarter.”
And with Apple’s fiscal year coming to a close, the company notes that revenue for the year came in at $394.3 billion.
One interesting tidbit mentioned during Apple’s earnings conference call is that the iPhone 15 is performing better sales-wise than the iPhone 14 was performing last year. Additionally, Tim Cook said that the iPhone 15 Pro and iPhone 15 Pro Max were supply constrained during the quarter.
Shares of Apple are currently down 2 and a half points in after-hours trading.