The November 2 earnings release covers the quarter ended September 26, not the holiday shopping period.

Apple reported fiscal fourth-quarter revenue of $114.5 billion on Monday, November 2, up 12% from a year earlier. Diluted earnings per share rose 14% to $2.10. The company said total revenue and iPhone revenue set September-quarter records, while Services reached an all-time high. Apple’s earnings release.

The results topped the expectations cited by the Associated Press: analysts polled by FactSet had forecast revenue of $113.4 billion and earnings of $1.99 per share. Those estimates are a comparison point, not the company’s reported results. AP earnings report.

Apple’s accompanying financial statements put quarterly net income at $30.711 billion, compared with $27.466 billion a year earlier. That is an increase of about 12%. Net income and earnings per share are different measures, which is why the profit-growth percentage should not be confused with the 14% EPS increase. Consolidated financial statements.

What the product numbers show

The iPhone business generated $57.583 billion in revenue, up from $49.025 billion in the year-earlier quarter. Services contributed $31.573 billion, compared with $28.750 billion. These are dollar amounts, not counts of phones sold or subscriptions added. Apple’s category breakdown.

Performance was not uniform across the lineup. Mac revenue increased to $10.792 billion from $8.726 billion, while iPad revenue declined to $6.229 billion from $6.952 billion. Wearables, Home and Accessories fell to $8.300 billion from $9.013 billion. Financial statements.

Greater China revenue rose to $17.539 billion from $14.493 billion. For the full fiscal year, Apple recorded total revenue of $478.834 billion. The quarterly and annual totals cover different periods and should be read separately. Financial statements.

Refunds and the leadership context

Apple said tariff refunds contributed five cents to quarterly EPS and approximately one percentage point to its 47.9% gross margin. Those benefits are included in the reported figures; they are not additional earnings to add on top. Apple’s release.

The release identifies John Ternus as CEO. Apple’s current leadership biography also confirms the role and says he joined the company in 2001 before becoming senior vice president of Hardware Engineering in 2021. Apple leadership biography.

Apple also declared a dividend of $0.27 per share, payable November 16 to shareholders of record at the close of business November 12. This report summarizes the announced results, rather than predicting the next quarter or recommending a stock trade. Dividend announcement.