Apple delivered another triumphant fiscal quarter after the close on Wednesday as it posted fourth-quarter revenue and earnings which trounced the expectations of Wall Street analysts thanks partly to robust sales of AirPods and Apple Watches.
In the three months until September’s close, the iPhone maker’s revenue clocked in at $64 billion despite a 9% year-over-year dip in iPhone sales, which was well ahead of the $62.99 billion expected by analysts. Its earnings per share of $3.03 also exceeded the forecast of $2.84 per share.
The news pushed Apple shares up by 1.6% to $247.10 in after-hours trading.
“We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and the iPad,” said CEO Tim Cook in a statement.
“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.”
Drilling down to the details, the Cupertino, California company’s iPhone revenue amounted to $33.36 billion, beating the estimate of $32.4 billion while revenue from services amounted to $12.51 billion, nudging past the projection of $12.15 billion. Its cash pile, meanwhile, dipped by 2% from the year-ago period to $205.9 billion.
Looking ahead, Apple is projecting first-quarter revenue between $85.5 billion and $89.5 billion. Its board has also announced a cash dividend of $0.77 per share, which is payable on November 14.