Apple beats iPhone sales forecast but turns in first annual revenue decline since 2001By Shawn Knight 22 comments
Apple on Tuesday afternoon published financial results for the fiscal fourth quarter of 2016 which ended September 24, just over a week after the arrival of the iPhone 7 and iPhone 7 Plus.
During the three-month period, Apple generated revenue of $46.9 billion with a profit of $9 billion, or $1.67 per diluted share. That's down from $51.5 billion and $11.1 billion ($1.96 per diluted share) in the year-ago quarter. Gross margin checked in at 38 percent compared to 39.9 percent during the same period in 2015.
Apple said 62 percent of the quarter's revenue came from international sales.
As The Verge highlights, Apple's annual revenue declined year-over-year for the first time since 2001, from $233.7 billion in 2015 to $217 billion this year.
The company sold 45.5 million iPhones during the quarter, beating out analysts' estimates of 44.8 million, as well as 9.2 million iPads and 4.8 million Macs. For comparison, in the year-ago quarter, Apple sold 9.8 million iPads and 4.7 million Macs.
Looking ahead, Apple said it expects to take in between $76 billion and $78 billion for the fiscal 2017 first quarter with a gross margin of between 38 percent and 38.5 percent. Apple is hosting a media event later this week in which it is expected to refresh its Mac lineup in time for the holidays.
It's not yet known what kind of an impact Samsung's recalling of the Galaxy Note 7 will have on iPhone sales.
Shares in Apple are down 2.8 percent in after-hours trading as of writing.