Apple posts record September quarter under new CEO as iPhone, Mac sales surge
Apple achieved record September quarter revenue of $114.5 billion, a 12% increase from the previous year that beat Wall Street estimates. The surge was driven by strong iPhone and Mac sales under new CEO John Ternus. Despite the overall growth and a 12% rise in profit, the company faced revenue misses in China and overall growth deceleration. Following the post-bell earnings report, Apple shares declined in premarket trading. The company also continues to manage concerns regarding component pricing.
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- ✓ Apple revenue for the September quarter rose 12% year-over-year to $114.5 billion.
- ✓ Apple profit grew 12 percent.
- ✓ John Ternus is the new CEO of Apple.
- ✓ Apple missed revenue estimates in China.
What changed
Apple reported a record September quarter with $114.5 billion in revenue and a 12% profit increase under CEO John Ternus.
Live updates
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Apple Reports Record September Quarter Revenue of $114.5 Billion
Apple achieved record September quarter revenue of $114.5 billion, a 12% increase from the previous year that beat Wall Street estimates. The surge was driven by strong iPhone and Mac sales under new CEO John Ternus. Despite the overall growth and a 12% rise in profit, the company faced revenue misses in China and overall growth deceleration. Following the post-bell earnings report, Apple shares declined in premarket trading. The company also continues to manage concerns regarding component pricing.
Why it matters
This financial period marks the early leadership of John Ternus as CEO. The results highlight a tension between strong hardware demand in some markets and slowing momentum in China. It occurs as the company expands its hardware lineup with new form factors.
What is confirmed
- Apple revenue for the September quarter rose 12% year-over-year to $114.5 billion.
- Apple profit grew 12 percent.
- John Ternus is the new CEO of Apple.
- Apple missed revenue estimates in China.
- Apple shares slid in premarket trading after the earnings report.
Still unconfirmed
- The iPhone Duo foldable phone went on sale October 23rd.
- Apple's growth machine is slowing and high prices may not save it.
What to watch next
- Further data on China sales recovery
- Impact of the iPhone Duo launch on quarterly revenue
- Updates on component pricing costs
confidence 90%Sources used for this update (15)
- www.foxbusiness.com — Market Check
- www.globalbankingandfinance.com — Latest Banking & Finance News & Analysis
- www.foxbusiness.com — Great Business Leaders in America & Around the World | Fox Business
- www.theverge.com — All the news about the iPhone Duo - The Verge
- www.thehindubusinessline.com — Stock Market Today Highlights, October 28: Sensex declines 353 points dragged by Reliance, IT stocks, rising crude oil prices
- Bloomberg.com — Apple Growth Decelerates, With China Sales Missing Estimates
- Yahoo Finance — Apple earnings live: Apple beats Q4 estimates on strong iPhone sales but misses on China revenue
- The New York Times — Apple’s Profit Grows 12 Percent Despite Component Price Worries
- Fox Business — Apple posts record September quarter under new CEO as iPhone, Mac sales surge
- Fortune — New Apple CEO John Ternus chalks up some early wins, but the honeymoon is over
- CNBC — Apple and Palantir shares slide in premarket trading following post-bell earnings
- WSJ — Apple’s Growth Machine Is Slowing. High Prices Might Not Save It.
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