On November 3rd Beijing time, Apple released its fourth quarter financial report, followed by Apple CEO Tim Cook's evaluation of the quarter's operating performance in a conference call.
The financial report shows that the company's fourth quarter revenue was 89.5 billion US dollars, a year-on-year decrease of 1%; The quarterly net profit was $23 billion, a year-on-year increase of 11.1%; Quarterly diluted earnings per share were $1.46, compared to $1.29 in the same period last year. The iPhone remains Apple's main revenue line. In the fourth quarter, Apple's iPhone sales were $43.8 billion, a 3% increase from $42.6 billion in the same period last year. In addition, Apple's services business had revenue of $22.314 billion in the fourth quarter, an increase of 16% from $19.188 billion in the same period last year. Cook specifically mentioned in the executive meeting after the financial report that this is a new high in service business revenue.
However, from the financial report, it can be seen that Apple's revenue in Greater China decreased by 2.5% year-on-year to $15.1 billion, which was lower than analysts' expectations. IPhone is the only category among all hardware products that has achieved revenue growth. Cook said, "In Chinese Mainland, our iPhone revenue hit a record high in the fourth quarter. We occupy four positions among the five most popular mobile phones in Chinese cities."
According to Interface News, Cook stated in an interview with the media that in the quarter ended September, the iPhone 15 series performed better than the iPhone 14 series in the same period last year. He cited data from market research firm Kantar as saying, "We have four of the top five best-selling smartphones in urban areas of China." In addition, Cook also revealed that due to strong market demand, there is a certain tension in the supply of iPhone15Pro and Pro Max, and Apple is "doing its best to produce more" iPhone15Pro and Pro Max. We are confident that by the end of this quarter, we can achieve a balance between supply and demand, "Cook said.
Regarding this, some netizens said, "Isn't it a decline in sales? Has the iPhone 15 broken?" "Yes, but not as many people have bought it before." "Buying a cheaper predecessor is better than buying a 15." "If the price is lowered, it will sell well." "This year's sales are better than in previous years, and it is estimated that some of the reasons are due to the entire series going to the island and the price reduction promotion." "From the perspective of sales, what Cook said is not a problem.
It is worth noting that although the fourth quarter revenue and earnings per share data of the 2023 fiscal year exceeded analysts' expectations, Apple's total sales for the quarter experienced the first consecutive four quarters of year-on-year decline since 2001. The financial report shows that sales revenue of all Apple's hardware products, except for smartphones, has decreased year-on-year. Apple's stock price rose 2.07% on Thursday, following the overall market trend. After the financial report was released, it fell by over 4% during the post market period.