Apple posted record revenue and profit in John Ternus’s first quarterly report as CEO, but rising memory chip costs and supply constraints clouded the company’s outlook for the holiday season. Apple forecast growth of 7% to 10% for the quarter, its most cautious projection in more than a year. Its shares fell about 3% in after-hours trading.
For the fiscal fourth quarter, which ended in September, revenue rose 12% to $114.5 billion, topping analyst expectations of about $113.4 billion. Earnings increased 14% to $2.10 per share, above forecasts of roughly $2. The iPhone business grew at a double-digit rate.
Apple said tariff refunds contributed five cents to the increase in earnings per share, but the company said it would still have set records without that benefit. Net income was $30.7 billion.
For the full fiscal year, Apple reported revenue of $478.8 billion, up 15% from the previous year and a record for the company.
Sources: Handelsblatt.