Apple Chief Operating Officer Sabih Khan acknowledged the shipping delays plaguing the new iPhone Duo during the company's fiscal fourth-quarter earnings call on Monday, but offered little clarity on when customers can expect relief.
Apple reported record September-quarter revenue of $114.5 billion, driven by strong iPhone 18 Pro and Mac sales despite price increases.
Result for the company, which earned $30.71bn and exceeded analysts' expectations, bucked downward trend for tech firms
Apple's stockpiling of inventory, particularly computer memory, continued in its fiscal fourth-quarter, according to earnings reported Monday. The company reported that its inventory increased significantly in the quarter, growing from $11.09 billion in Q3 to $14.54 billion in Q4, a jump of 31.1%.
Apple's first earnings report under John Ternus is here. Apple faces skyrocketing memory costs, component shortages, and a lineup that is more expensive after it boosted prices.
Apple reported better-than-expected revenue and earnings for its September quarter. The company's shares were trading slightly higher in Monday's after-hours trading as investors assessed the impact of higher device prices, supply constraints, and demand ahead of the holiday season.
Apple revenue beat Wall Street forecasts rising 12% for the fiscal fourth quarter ended in September, led by strong iPhone sales. Mac sales boomed. The giant services sector, home of Apple TV, was a hair soft, numbers for iPad and Wearables were below estimates. Earnings per shares were boosted by a hefty tariff refund.