Apple’s fourth-quarter financial report released after the market on Thursday showed that its revenue was not as good as Wall Street’s expectations. CEO Cook attributed it to iPhone, iPad and Mac supply constraints exceeding expectations.The financial report shows that Apple’s fourth-quarter earnings per share were US$1.24, the market expected US$1.24; revenue was US$83.36 billion, a year-on-year increase of 29%, and the market expected US$84.85 billion.
Specifically, Apple’s fourth fiscal quarter:
iPhone revenue is US$38.87 billion, a year-on-year increase of 47%, and the market is expected to be US$41.51 billion;
Service business revenue was US$18.28 billion, a year-on-year increase of 25.6%, and the market is expected to be US$17.64 billion;
Wearable andAccessoriesBusiness revenue was 8.79 billion U.S. dollars, an increase of 11.5% year-on-year, and the market is expected to be 9.33 billion U.S. dollars;
Mac revenue was 9.18 billion U.S. dollars, an increase of 1.6% year-on-year, and the market is expected to be 9.23 billion U.S. dollars;
iPad revenue is 8.25 billion U.S. dollars, an increase of 21.4% year-on-year, and the market is expected to be 7.23 billion U.S. dollars.
Cook said: “Although the supply constraints are greater than expected, we estimate (related losses) to be about 6 billion U.S. dollars, but our financial performance is very strong. Supply constraints are widely discussed in the industry due to the shortage of chips and the outbreak-related manufacturing disruption in Southeast Asia. Caused.”
Since the beginning of the new crown epidemic, Apple has not provided official performance guidance, but CEO Cook said that although the company will face more severe supply constraints this quarter, it is expected that the December quarter revenue will achieve “steady year-on-year growth.” .
Cook’s expectations indicate that Apple believes that demand for its new iPhone 13 models far exceeds its supply capacity. The company’s fourth fiscal quarter ended September 25 only included a few days of iPhone 13 sales.
Due to the surge in sales of iPhone, iPad and Mac during the epidemic, Apple is currently in the midst of massive growth. The company’s annual revenue for the 2021 fiscal year increased by 33% year-on-year to $366 billion.
In addition to iPhone, the strongest growth in Apple’s product category is the service business, which includes sales from the App Store, music and video subscription services, advertising, extended warranty and licensing. Apple’s service business revenue increased by 25.6% year-on-year, which Cook said was higher than the company’s expectations.
According to data from Refinitiv, this quarter is the first time that Apple has failed to exceed profit expectations since April 2016. It is also the first time that revenue has fallen below market expectations since May 2017.
Apple said that in the fourth fiscal quarter, revenue in Greater China was US$14.56 billion, a year-on-year increase of 83%. Revenue in the Americas was US$36.82 billion, a year-on-year increase of 20%.
After the financial report was announced, Apple’s stock price fell more than 5% after the market.