This post was originally published on this site
kimihiro hoshino/Agence France-Presse/Getty Images
Even without new iPhones, Apple Inc. was able to produce record September-quarter revenue to wrap up its fiscal year.
In many other years, Apple’s AAPL, +3.70% fiscal fourth quarter has received a jolt from early sales of the company’s latest iPhone models. Apple delayed its iPhone 12 launch due to the COVID-19 crisis this year, but the company still managed to post growing sales led by its other product categories.
Shares still fell 4.7% in after-hours trading Thursday, as Apple again declined to provide a forecast amid the pandemic. Investors and analysts were hoping for guidance that would give an idea of expectations for holiday sales of the new iPhones.
Don’t miss: Apple brings 5G to iPhones but keeps the same price tags
Apple’s revenue for the quarter rose to $64.7 billion from $64.04 billion, while analysts surveyed by FactSet were modeling $63.7 billion. The company posted net income of $12.67 billion, or 73 cents a share, down from $13.68 billion, or 76 cents a share, in the year-earlier quarter. Analysts tracked by FactSet were modeling 71 cents a share in earnings.
While Apple saw iPhone revenue slip to $26.44 billion from $33.36 billion as the year-prior period included some sales of new-model devices, the company continued to see strong growth in iPads and Macs, two categories that have benefitted this year from remote work and school trends. Revenue from iPads rose to $6.8 billion from $4.66 billion, while revenue from Macs climbed to $9.03 billion from $6.99 billion. Apple had availability of its newest entry-level iPad model at the tail end of the September quarter.
Analysts surveyed by FactSet were modeling $28.08 billion in iPhone revenue, $6.02 billion in iPad revenue, and $7.82 billion in Mac revenue.
Apple’s sales from wearables, home, and accessory products increased to $7.88 billion from $6.52 billion for the quarter, coming in above estimates for $7.17 billion. Services revenue jumped to $14.55 billion from $12.51 billion, while analysts were calling for $14.11 billion.
Apple’s overall revenue was a record for the September quarter. The company said in its release that services and Mac revenue hit “new all-time high[s].”
The smartphone giant declared a dividend of $0.205 a share, which is payable Nov. 12 to shareholders of record as of the close of business Nov. 9.
Shares of Apple have risen about 59% so far this year as the Dow Jones Industrial Average DJIA, +0.52%, of which Apple is a component, has declined roughly 6%.
