Apple (AAPL) Estimates Raised at Drexel Hamilton

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Apple Reports Fourth Quarter Results

October 25, 2016 4:30 PM EDT

Services Revenue Grows 24% to All-Time Quarterly Record of $6.3 Billion

CUPERTINO, Calif.--(BUSINESS WIRE)-- Apple® today announced financial results for its fiscal 2016 fourth quarter ended September 24, 2016. The Company posted quarterly revenue of $46.9 billion and quarterly net income of $9 billion, or $1.67 per diluted share. These results compare to revenue of $51.5 billion and net income of $11.1 billion, or $1.96 per diluted share, in the year-ago quarter. Gross margin was 38 percent compared to 39.9 percent in the year-ago quarter. International sales accounted for 62 percent of the quarters revenue.

Our strong September quarter results cap a very successful fiscal 2016 for Apple,... More