Apple today announced financial results for its fiscal 2015 fourth quarter ended September 26, 2015. The Company posted quarterly revenue of $51.5 billion and quarterly net profit of $11.1 billion, or $1.96 per diluted share. These results compare to revenue of $42.1 billion and net profit of $8.5 billion, or $1.42 per diluted share, in the year-ago quarter. Gross margin was 39.9 percent compared to 38 percent in the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
As surveyed by Thomson Reuters, analysts’ consensus estimates called for earnings of $1.88 a share and revenue of $51.1 billion.
The growth was fueled by record fourth quarter sales of iPhone, the expanded availability of Apple Watch, and all-time records for Mac sales and revenue from services.
• iPhone: 48.046 million units, $32.209 billion revenue (vs. 39.272 million, $23.678 billion YOY, +22% unit and +36% revenue increase YOY)
• iPad: 9.883 million units, $4.276 billion revenue (vs. 12.316 million units, $5.316 billion YOY, -20% units and -20% revenue YOY)
• Mac: 5.709 million units, $6.882 billion revenue (vs. 5.520 million units, $6.625 billion YOY, +3% units and +4% revenue YOY)
• Services*: $5.086 billion revenue (vs. $4.608 billion, +10% YOY)
• Other Products**: $3.048 billion revenue (vs. $1.896 billion, +61% YOY)
*Includes revenue from Internet Services, AppleCare, Apple Pay, licensing and other services.
**Includes sales of Apple TV, Apple Watch, Beats products, iPod and Apple-branded and third-party accessories. Includes deferrals and amortization of related software upgrade rights and non-software services.
Analyst projections as per FactSet were:
• iPhone sales: 48 million units, $31.37 billion
• iPad sales: 10 million units, $4.37 billion
• Mac sales: 6 million units, $6.81 billion
“Fiscal 2015 was Apple’s most successful year ever, with revenue growing 28% to nearly $234 billion. This continued success is the result of our commitment to making the best, most innovative products on earth, and it’s a testament to the tremendous execution by our teams,” said Tim Cook, Apple’s CEO, in a statement. “We are heading into the holidays with our strongest product lineup yet, including iPhone 6s and iPhone 6s Plus, Apple Watch with an expanded lineup of cases and bands, the new iPad Pro and the all-new Apple TV which begins shipping this week.”
“Apple’s record September quarter results drove earnings per share growth of 38% and operating cash flow of $13.5 billion,” added Luca Maestri, Apple’s CFO. “We returned $17 billion to our investors during the quarter through share repurchases and dividends, and we have now completed over $143 billion of our $200 billion capital return program.”
Apple is providing the following guidance for its fiscal 2016 first quarter:
• revenue between $75.5 billion and $77.5 billion
• gross margin between 39 percent and 40 percent
• operating expenses between $6.3 billion and $6.4 billion
• other income/(expense) of $400 million
• tax rate of 26.2 percent
Apple’s board of directors has declared a cash dividend of $.52 per share of the Company’s common stock. The dividend is payable on November 12, 2015, to shareholders of record as of the close of business on November 9, 2015.
MacDailyNews Take: The iPad swoon YOY is glaring.
• UPDATE: 4:50pm EDT: AAPL After Hours : 116.75 Up 2.20 (1.92%) 4:50PM EDT
MacDailyNews presents live notes from Apple’s Q415 Conference Call – October 27, 2015