Apple (AAPL) Tops Q4 EPS by 3c, Revenue Beat

October 29, 2020 4:30 PM

Apple (NASDAQ: AAPL) reported Q4 EPS of $0.73, $0.03 better than the analyst estimate of $0.70. Revenue for the quarter came in at $64.7 billion versus the consensus estimate of $63.7 billion.

The company is not providing first-quarter guidance, citing too much uncertainty due to COVID.

iPhone sales of $26.444 billion for the quarter, missed the consensus of $27.06 billion. Services revenue of $14.549 billion, versus $12.511 billion last year.

“Apple capped off a fiscal year defined by innovation in the face of adversity with a September quarter record, led by all-time records for Mac and Services,” said Tim Cook, Apple’s CEO. “Despite the ongoing impacts of COVID-19, Apple is in the midst of our most prolific product introduction period ever, and the early response to all our new products, led by our first 5G-enabled iPhone lineup, has been tremendously positive. From remote learning to the home office, Apple products have been a window to the world for users as the pandemic continues, and our teams have met the needs of this moment with creativity, passion, and the kinds of big ideas that only Apple can deliver.”

“Our outstanding September quarter performance concludes a remarkable fiscal year, where we established new all-time records for revenue, earnings per share, and free cash flow, in spite of an extremely volatile and challenging macro environment,” said Luca Maestri, Apple’s CFO. “Our sales results and the unmatched loyalty of our customers drove our active installed base of devices to an all-time high in all of our major product categories. We also returned nearly $22 billion to shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”

For earnings history and earnings-related data on Apple (AAPL) click here.

Categories

Earnings Hot Earnings Management Comments