Apple MISSES on revenue

Apple misses analysts' target expectations for sales in its fiscal fourth quarter matching views on earnings. Apple stock crashed over 5% in the after-market.

Apple did not publish guidance for the current quarter in its news release.

"Our record September-quarter results capped off a remarkable fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories in spite of continued uncertainty in the macro environment," Chief Financial Officer Luca Maestri wrote in a statement.

Here’s a breakdown on Apple numbers:

EPS: $1.24 vs. $1.24 estimated

Revenue: $83.36 billion vs. $84.85 billion estimated, up 29% year-over-year

Gross margin: 42.2% vs. 42.0% estimated

Services revenue: $18.28 billion vs. $17.64 billion estimated, up 25.6% year-over-year

iPhone revenue: $38.87 billion vs. $41.51 billion estimated, up 47% year-over-year

iPad revenue: $8.25 billion vs. $7.23 billion estimated, up 21.4% year-over-year

Mac revenue: $9.18 billion vs. $9.23 billion estimated, up 1.6% year-over-year

Other Products revenue: $8.79 billion vs. $9.33 billion estimated, up 11.5% year-over-year

In Apple's earnings call, Tim Cook noted that the business in India has doubled: "Set quarterly records in every geographic segment with strong double-digit growth"

"During fiscal 2021, we earned nearly one-third of our revenue from emerging markets" and "doubled our business in India and Vietnam."

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