Apple Inc. reported fourth-quarter earnings that came in line with estimates amid an improvement in gross margin. Revenues, however, trailed estimates, dragged by weaker-than-expected iPhone sales.
Component shortages apparently have taken a bite out of Apple, leading to weakness in its flagship product. China, which of late has been fueling Apple’s strong performance, also sagged a bit.
Apple’s Key Q4 Metrics
Apple reported fourth-quarter earnings per share of $1.24 on revenues of $83.4 billion, up 29 percent year-over-year. The bottom-line result came in line with the consensus, while revenues were shy of the consensus estimate of $84.55 billion.
