Apple recorded revenue of $94.9 billion for the fourth quarter ended in September, up 6 percent year over year, partly fueled by a strong initial demand for its iPhone 16.
Those numbers would have been even higher were it not for a one-time tax bill stemming from a long-contested decision by the European Union (EU).
Apple CEO Tim Cook said during Thursday’s earnings call that iPhone sales jumped 6 percent from the previous year, totaling $46.22 billion in the fourth quarter of this year.
Revenue from Apple’s Mac business also rose 2 percent to $7.74 billion, while iPad sales reached $6.95 billion, up 8 percent from the previous year, the company stated.
“During the quarter, we were excited to announce our best products yet, with the all-new iPhone 16 lineup, Apple Watch Series 10, AirPods 4, and remarkable features for hearing health and sleep apnea detection,” Cook said in a press release.
Apple CFO Luca Maestri said that product revenue reached $70 billion, marking a 4 percent year-over-year increase, driven by growth in iPhone, iPad, and Mac sales.
Maestri said that revenue from Apple’s services—such as iCloud, Apple TV, and Apple Pay—hit an all-time high of nearly $25 billion in the fourth quarter, up 12 percent year over year.
“Our record business performance during the September quarter drove nearly $27 billion in operating cash flow, allowing us to return over $29 billion to our shareholders,” he stated.
Apple recorded a one-time income tax charge of $10.2 billion in the fourth quarter related to a European General Court ruling requiring the company to pay more than $14 billion in back taxes to Ireland.
“When we exclude this one-time charge, net income was $25 billion and diluted earning per share was $1.64, up 12 percent year over year in the September quarter record,” Maestri said during the call.
Apple’s sales in China were down year over year, to $15.03 billion. Apple’s stock was down about 2 percent in after-hours trading after the analyst call.
