Apple's fourth quarter results were mixed, but services revenue topped the $100 billion in annual revenue. The results were better-than-expected.
The company reported fourth quarter earnings of $1.85 a share on revenue of $102.5 billion, up 8% from a year ago.
Wall Street was expecting fourth quarter earnings of $1.77 a share on revenue of $102.25 billion.
The September quarter only includes a few days of sales of the iPhone 17 lineup.
CEO Tim Cook said the company's portfolio, which includes iPhone 17 devices, iPhone Air and refreshed MacBook Pro and iPad Pro.
On a conference call with analysts, Cook said: "We're also seeing developers take advantage of our on device foundation models. So excited for a more personalized Siri. We're making good progress on it, and as we've shared, we expect to release it next year."
By the numbers:
- Apple reported fiscal 2025 revenue of $416.16 billion with net income of $112 billion.
- Services revenue was $28.75 billion for the fourth quarter and $109.16 billion for the year.
- iPhone revenue was $49.02 billion in the fourth quarter and $209.59 billion for the year.
- Mac sales were $8.73 billion in the fourth quarter.
- iPad sales in the fourth quarter were flat from a year ago at $6.95 billion.
- Wearables, home and accessories revenue was $9.01 billion, down slightly from a year ago.
- China revenue in the fourth quarter was $14.49 billion, down from $15 billion a year ago.
Constellation Research analyst Holger Mueller said:
"Apple had a good quarter. The good news is that the main platform, the iPhone got another boost, showing that innovation gets Apple users to upgrade. Now Apple just has to deliver more of it. The Apple Intelligence release is the big milestone to watch. With rising iPhone sales the platform and services up as well it's and surprising Apple is creating record sales. Services are now more revenue for Apple than all non iPhone categories together. Good to see. Now all eyes are on the always critical holiday quarter. Wearables, iPad and likely Mac won't help much. Apple is and remains the iPhone and growingly iPhone services company."
