Apple’s fourth fiscal quarter figures beat estimates

Apple outperformed even without a significant revenue from iPhone sales

Apple – the American tech behemoth reported Q4 earnings that came above expectations.

The EPS came in slightly higher than the $0.71 forecasted at $0.73. The revenue figures followed suit, being reported at $64.70 billion, ahead of the $63.98 billion expected.

$14.55 billion was brought by the services sector. The figures topped both last year’s numbers and this year’s forecast.

However, the revenue generated by iPhone sales came in lower than it did at the same time last year. From a previous of $33.4 billion, it dropped to $26.4 bln. The decrease is considered to have been caused by the consumers’ decision to wait and buy the iPhone 12. The device was released later than expected. Still, the revenue from iPhone sales represents almost 50% of the overall one.

After the news hit the wire, Apple stock price dropped 3.5%. Since the beginning of the year, the stocks went up 57%.

Sources: techcrunch.com, investing.com