Apple edged Wall Street estimates for its fiscal fourth quarter, reporting earnings of $1.85 and revenue of $102.5 billion.
Analysts, who had expected revenue of $102.25 billion and earnings of $1.77, are awaiting more color on sales of the flagship iPhone. CEO Tim Cook and CFO Kevan Parekh were getting set to lay out those details during a conference call with analysts to discuss the quarter.
The tech giant came into the earnings report with momentum. Its market value recently topped $4 trillion for the first time, largely on reports of healthy iPhone sales. Despite all of the other products and services under the Apple tent, the iPhone continues to represent roughly half of its revenue.
Demand for the iPhone 17 and 17 Pro, which just came out last month, has been particularly strong in China. That’s a reversal of recent trends and also comes as the U.S. and China have been engaged in their latest battle in a multi-year trade war. Earlier this week, President Trump agreed to lower tariffs after a meeting with Chinese President Xi Jinpeng.
Cook and Parekh are sure to field questions about Apple’s goals in AI. Compared to its peers in Big Tech, Apple has not been as aggressive in laying out plans for how it plans to harness the benefits of the technology, though it has woven more AI features into its devices in recent cycles.
Two consequential events on the entertainment side of the company happened after the September 30 end of the quarter: the acquisition of Formula 1 rights and the rebranding of Apple TV+ to Apple TV. Based on trends from previous earnings calls, Cook is likely to at least touch briefly on both.
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