Apple Reports Record $114.5 Billion September-Quarter Revenue

Apple reported record September-quarter revenue of $114.5 billion for its fiscal fourth quarter, up 12% from a year earlier, with iPhone sales and Services setting records. The results were John Ternus’s first earnings report as chief executive, after he took over from Tim Cook on September 1. Diluted earnings were $2.10 per share, compared with $1.85 a year earlier. Net income rose to $30.7 billion from $27.5 billion. Apple also reported full fiscal-year revenue of $478.8 billion and net income of $132.2 billion, both higher than the prior-year totals. IPhone revenue climbed 17% to $57.58 billion, a September-quarter record. Services revenue rose about 10% to $31.57 billion, an all-time high. Apple’s results attributed the overall performance chiefly to iPhone sales, while the company said both iPhone and Services reached their respective records. The quarter ended in September, before the iPhone Duo went on sale October 23. It included only a short period of sales for the iPhone 18 Pro models, according to reporting on the results. As a result, the quarter did not include sales from the Duo launch, which fell after the reporting period. Other product categories had mixed...