New CEO John Ternus delivers an Apple earnings beat
Apple's revenue for its fiscal Q4 was $114.5 billion, surpassing Wall Street's estimates of $113.46 billion. EPS came in at $2.10, topping estimates.
TL;DR
- Apple reported fiscal Q4 revenue of $114.5 billion, surpassing estimates of $113.46 billion.
- Earnings per share were $2.10, also exceeding analysts' expectations.
- iPhone revenue was $57.58 billion, and Mac sales exceeded estimates by over $1 billion.
- Revenue from China was $17.54 billion, missing estimates of $18.75 billion.
- iPad sales were $6.23 billion, below the estimated $6.83 billion.
- The company faces rising memory costs, which impacted gross margin, though tariff refunds provided a lift.
- CEO John Ternus noted supply constraints and unprecedented memory pricing.
- Anticipated operating expenses for the holiday quarter are slightly higher than estimated.