Apple Does It Again With Q4 Earnings
Apple released better than expected quarterly results and announced a dividend hike after markets closed on Tuesday.
Apple Inc. (NASDAQ: AAPL | AAPL Price Prediction) released its most recent quarterly results after markets closed Tuesday. The iPhone giant said that it had $3.03 in earnings per share (EPS) and $64 billion in revenue, compared with consensus estimates that called for $2.84 in EPS and $62.99 billion in revenue. The fourth fiscal quarter from last year had $2.91 in EPS and $62.9 billion in revenue.
Note that in this quarter International sales accounted for roughly 60% of the quarter’s revenue.
The board of directors has declared a cash dividend of $0.77 per share of common stock. The dividend is payable on November 14, to shareholders of record as of the close of business on November 11.
In its most recent quarter, the firm reported its product sales as follows:
- iPhone pulled in revenues of $33.36 billion, a decrease of 9.2% year over year.
- Mac revenues decreased by 4.8% to $6.99 billion.
- iPad revenues increased 16.9% to $4.66 billion.
- Services revenues increased by 18.0% to $12.51 billion.
- Other Products revenues increased by 54.4% to $6.52 billion.
Regarding guidance for the fiscal first quarter, the company expects to see revenues in the range of $85.5 billion to $89.5 billion and a gross margin of 37.5% to 38.5%. The consensus estimates call for $4.45 in EPS on $86.92 billion in revenue for the coming quarter.
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Tim Cook, Apple’s CEO, commented:
We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad. With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store.
Shares of Apple closed Wednesday at $243.26, in a 52-week range of $142.00 to $249.75. The consensus price target is $236.33. Following the announcement, the stock was up 1.5% at $246.98 in the after-hours session.
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Chris Lange is a writer for 24/7 Wall St., based in Houston. He has covered financial markets over the past decade with an emphasis on healthcare, tech, and IPOs. During this time, he has published thousands of articles with insightful analysis across these complex fields. Currently, Lange's focus is on military and geopolitical topics. Lange's work has been quoted or mentioned in Forbes, The New York Times, Business Insider, USA Today, MSN, Yahoo, The Verge, Vice, The Intelligencer, Quartz, Nasdaq, The Motley Fool, Fox Business, International Business Times, The Street, Seeking Alpha, Barron’s, Benzinga, and many other major publications. A graduate of Southwestern University in Georgetown, Texas, Lange majored in business with a particular focus on investments. He has previous experience in the banking industry and startups.
