The Big Apple slows

8 years ago - Published in Finance, Fundamental Analysis

Apple posted a quarterly revenue of $46.9 billion and quarterly net income of $9 billion. For the same quarter in 2015, these numbers were $51.5 billion and $11.1 billion, repectively. International sales accounted for 62% of the Q4’s revenue ended September 24, 2016. The quarterly results marked the third straight quarter where Apple posted a year-over-year revenue decline.

Apple also noted that its services business grew 24% on year to an all-time quarterly record of US$6.3 billion. Apple CEO Tim Cook said the company is thrilled with the “the incredible momentum of our Services business, where revenue grew 24% to set another all-time record.”
Gross margin was 38% for the quarter compared to 39.9% in the year-ago quarter.

For the first quarter of its fiscal 2017, Apple expects its revenues to reach US$76-78 billion with a gross margin of 38-38.5% and its operating expenses to reach US$6.9-7 billion. Apple's board also declared a cash dividend of 57 cents per share, payable on November 10.