On Tuesday, Apple posted its (fiscal) Q4 earnings for 2016 and gave the public a look at how well it has performed over the last 3 months. From the information they were able to provide, the company was able to come close to Wall Street’s projections on how well the Cupertino-based company would perform.
In the past 3 months, Apple was able to sell a total of 45.5 million iPhones and 9.3 million iPads. As a whole, these sales earned Apple a revenue of $46.9 billion. Yet despite this, it shows a decrease in revenue; especially when compared to yearly numbers. Apple continues to struggle in finding new growth for the company.
Here’s a look at the company’s Q4 2016 numbers compared with last year’s figures:
- iPhones sold: 45.5 million (2016), 48.05 million (2015); down 5%
- iPads sold: 9.3 million (2016), 9.88 million (2015); down 6%
- Macs sold: 4.8 million (2016), 5.71 million (2015); down 14%
- Revenue: $46.9 billion (2016), $51.5 billion (2015); down 9%
With regards to their numbers, CEO Tim Cook shares that they are thrilled with how their customers have responded to the newly released devices– the iPhone 7, iPhone 7 Plus and Apple Watch Series 2. Cook also shows that their Services business has gained a revenue of 24%; earning it an all-time record.
These numbers don’t pose any reason for Apple executives to worry, however, especially since they still have to unveil new laptops this week. Not to mention, there is a strong demand for the iPhone 7, which may have an even better turnout when the holiday quarter sales start pouring in.
Apple expects they will have a revenue between $76 and $78 billion in the holiday quarter, which will be an increase from the $75.9 billion revenue from the same quarter last year.