Apple stock falls after cautious outlook overshadows record iPhone quarter

In its fiscal fourth quarter, Apple reported earnings per share of $1.46 on revenue that reached $89.5 billion. Wall Street had expected earnings per share to come in at $1.39 with revenue reaching $89.3 billion, according to estimates from Bloomberg. This marked the fourth-straight quarter revenue fell from the year ago period.

Revenues in its Mac, iPad, and Wearables categories fell from the same quarter last year. For its just-completed fiscal year, Apple reported total revenue of $383.3 billion, down from $394.3 billion in the prior year. Wall Street analysts had been forecasting revenue in the current quarter to total $122.8 billion, according to data from Bloomberg. In its December quarter last year Apple reported revenue of $117.2 billion.

Source: News Formal (newsformal.com)

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