Apple’s fourth-quarter revenue was $89.5 billion, with revenue in Greater China declining by 2.5%.

Apple Reports $89.5 Billion in Fourth Quarter Revenue, with 2.5% Decline in Greater China Sales

【Mobile China News】On November 2nd, local time, Apple released its fiscal fourth quarter 2023 earnings report ending September 30th. The report shows that the company’s fourth-quarter revenue reached $89.5 billion, a 1% decline compared to the same period last year. Diluted earnings per share for the quarter were $1.46.

Breaking it down by product, iPhone business net sales for the fourth quarter of the fiscal year were $43.805 billion, a 3% increase compared to the same period last year. Mac business net sales for the fourth quarter were $7.614 billion, a 34% decrease compared to the same period last year. iPad business net sales for the fourth quarter were $6.443 billion, a 10% decrease compared to the same period last year. Wearables, home, and accessories business net sales for the fourth quarter were $9.322 billion, a 3% decrease compared to the same period last year. Service business net sales for the fourth quarter were $22.314 billion, a 16% increase compared to the same period last year.

Apple’s fourth-quarter revenue and earnings per share exceeded analysts’ expectations. However, this quarter marks the fourth consecutive decline in revenue, setting the longest decline record since 2001. At the same time, Greater China revenue for Apple declined by 2.5%, with iPhone being the only category of hardware products to achieve revenue growth. As of the time of writing, Apple’s stock price fell over 3% in after-hours trading.

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Apple opened at $175.52 on the NASDAQ stock exchange on Thursday. As of Thursday’s close, Apple’s stock price rose $3.60 to $177.57, a 2.07% increase.

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