Apple posts Q4 2016 earnings: $46.9 billion in revenue as stock soars
It's earnings season and all eyes in the tech world were laser focused on Apple today as the iPhone maker posted its earnings results for the recent September quarter. After the bell, Apple released its Q4 2016 earnings report and posted revenue of $46.9 billion. With respect to overall earnings per share, Apple posted an EPS of $1.67.
By way of contrast, Apple during the year-ago quarter posted revenue of $51.5 billion and a quarterly profit of $11.1 billion. Meanwhile, Apple's EPS during its fiscal fourth quarter last year checked in at $1.96
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Leading up to today's earnings report, analysts were anticipating Apple to post revenue in the $47.1 billion range and to deliver 44.93 million iPhone sales, 9.16 million in iPad sales and 5.15 million in Mac sales. Apple's EPS for the quarter was expected to come in at $1.66.
During the quarter, Apple's sales figures came in as follows: 45.5 million in iPhone sales, 9.2 million in iPad sales and 4.8 million in Mac sales. All in all, it was an impressive if not surprising showing for Apple, especially on the iPhone front.
“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” Tim Cook said in a press release. “We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record.”
Looking ahead to Apple's holiday quarter, the company is anticipating revenue to fall in the range $76 billion and $78 billion.
In after hours trading, shares of Apple were up significantly.
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