Apple rakes in $62.9B in revenue on sales of 46.9M iPhones in record-breaking September qu...
Apple's revenue for the fourth quarter of the fiscal year 2018 hit $62.9 billion, the company revealed on Tuesday, with earnings-per-share of $2.91 growing year-on-year, and iPhone sales of 46.9 million units translating to massive ASPs of $793.
iPhone X and iPhone 8.
Apple shipped 46.9 million iPhones during the September quarter, up slightly year-on-year from the same period in 2017, when it shipped 46.7 million iPhones. Revenue from iPhones of $37.2 billion is up year-on-year from $28.8 billion.
"We're thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple's history," said Apple CEO Tim Cook.
The average selling price (ASP) of the iPhone is $793, up from the $617.99 ASP from one year ago. This continues a pattern seen in earlier quarters, with the main ASP driver being the premium pricing of the iPhone X, iPhone XS, and iPhone XS Max. Sequentially, iPhone ASPs are up substantially from the $724 figure recorded in quarter three.
Analysts predicted Apple would sell around 47.5 million iPhones in the fourth quarter, forecasting a range between 46.7 million and 48.1 million.
The iPad earned Apple $4.1 billion in revenue for the quarter, down year-on-year from last year's $4.8 billion, with sales of 9.7 million units versus 10.3 million units from the same period last year. The results failed to meet analyst estimates of around 10.5 million units shipped.
Mac revenue of $7.4 billion for the quarter is higher than the year-ago quarter's $7.2 billion. Sales of 5.3 million units are a slightly down from the 5.4 million recorded last year. The period is also the quarter that Apple updated the MacBook Pro with new processors and better GPUs. It does not appear to have moved the needle that much versus the year-ago quarter, however.
The Services arm of the company contributed $10 billion in revenue, an increase from the $8.5 billion reported for the period in 2017. Services continues to report double-digit year-on-year growth, keeping it a relatively predictable revenue source for the company.
Overall revenue in the quarter of $62.9 billion is a year-on-year increase from $52.6 billion. Apple forecast revenue between $60 billion and $62 billion with a gross margin between 38 percent and 38.5 percent for the quarter.
Apple is forecasting revenue between $89 billion and $93 billion for the first fiscal quarter of 2019, with gross margin pegged between 38 percent and 38.5 percent. Operating expenses are expected to lie between $8.7 billion and $8.8 billion, while a tax rate of approximately 16.5 percent is anticipated.
iPhone X and iPhone 8.
Apple shipped 46.9 million iPhones during the September quarter, up slightly year-on-year from the same period in 2017, when it shipped 46.7 million iPhones. Revenue from iPhones of $37.2 billion is up year-on-year from $28.8 billion.
"We're thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple's history," said Apple CEO Tim Cook.
The average selling price (ASP) of the iPhone is $793, up from the $617.99 ASP from one year ago. This continues a pattern seen in earlier quarters, with the main ASP driver being the premium pricing of the iPhone X, iPhone XS, and iPhone XS Max. Sequentially, iPhone ASPs are up substantially from the $724 figure recorded in quarter three.
Analysts predicted Apple would sell around 47.5 million iPhones in the fourth quarter, forecasting a range between 46.7 million and 48.1 million.
The iPad earned Apple $4.1 billion in revenue for the quarter, down year-on-year from last year's $4.8 billion, with sales of 9.7 million units versus 10.3 million units from the same period last year. The results failed to meet analyst estimates of around 10.5 million units shipped.
Mac revenue of $7.4 billion for the quarter is higher than the year-ago quarter's $7.2 billion. Sales of 5.3 million units are a slightly down from the 5.4 million recorded last year. The period is also the quarter that Apple updated the MacBook Pro with new processors and better GPUs. It does not appear to have moved the needle that much versus the year-ago quarter, however.
The Services arm of the company contributed $10 billion in revenue, an increase from the $8.5 billion reported for the period in 2017. Services continues to report double-digit year-on-year growth, keeping it a relatively predictable revenue source for the company.
Overall revenue in the quarter of $62.9 billion is a year-on-year increase from $52.6 billion. Apple forecast revenue between $60 billion and $62 billion with a gross margin between 38 percent and 38.5 percent for the quarter.
Apple is forecasting revenue between $89 billion and $93 billion for the first fiscal quarter of 2019, with gross margin pegged between 38 percent and 38.5 percent. Operating expenses are expected to lie between $8.7 billion and $8.8 billion, while a tax rate of approximately 16.5 percent is anticipated.
Comments
increase in revenue and profits were really good.
Ben Bajarin (@BenBajarin) 11/1/18, 3:37 PM
Apple’s guidance of 89-93 B for next quarter seems a bit weaker than most thought. Seems like a big holiday quarter for them coming so will be curious to see their explanation on the call.
Caution on is likely based in Trade Wsr headwind uncertainty. No matter it would be out of Apple’s hands we all know the slightest miss and the haters pile on and punish the stock.
ETA: such as the “miss” in sales numbers. 46,7 million versus 47.5? Nevermind the 47.5 is an average of a range of estimates so subject to a deviation bracket: that’s a 1.68% difference.
YOY iPhone sales flat, iPad down 6%, Mac down 2% yet earnings were up 31%. Some of that is services but a lot is higher iPhone prices too.
I think the new products nailed it across the board. The AIR, IPads, and IPhone XR are going to be on a lot of Christmas lists. The Mini I expect to get some business demand but that’s for next year...
Bullshit. Last year guidance was $84-87 billion and this year it's $89-93 billion. So an increase of $5-6 billion and they claim it's "weak". In what universe is an extra $5-6 billion weak?
As for Macs, there weren't enough new models out last year to drive positive growth, so again unexpected. Plus you're omitting big growth in Services and Wearables that also contributed significantly to that revenue growth.
I expect Mac sales to be flat y-o-y next quarter, but you know 5M+ Macs were quarter is really satisfactory. The iPad will see a slight uptick, we'll see if it beats last year. The iPhone on the other hand will definitely return to growth next quarter compared to last year, I expect, and I think wearables/services will also have another record quarter.
Bottom line: everything's great on the whole, the move to "big picture" figures shifts the analyst emphasis where it should be, and the biggest question marks are tied up in the China trade war going on at the moment, alongside India stubbornness. IMO, obviously.
Quite a nice correction, quite nice opportunity to buy, for all of us, for the Apple employees and for Apple stock buybacks - they should go mental on it really until they can go private.
Meanwhile, when the results come in for the Holliday quarter and they literally explode all predictions and historical records and make so much money they cannot count, then the stock may correct itself and go up like crazy. Until then, after this little bump, it will rise calmly and steadily to never before seen prices. GO APPL !
In any calendar year that has 53 Saturdays, Apple will have a 14-week holiday quarter. So... 2022 (Q1 FY 2023), 2028, 2033, and 2039. These years will usually, but won’t always, end on Saturdays.
Any year that ends on a Saturday (including leap years that begin on Fridays) will have such a quarter. Plus, any leap year that begins on a Saturday (and ends on a Sunday) will have such a year.
The key to Apple’s quarters is that they end on Saturdays. And, for non-holiday quarters, they last 13 weeks while for holiday quarters they last until the last Saturday of the year - making them either 13 or 14 weeks long.