Rachel King – CNet News
Following mixed reviews of its latest iPad line refresh last week, Apple kicked off the week with its fiscal fourth quarter earnings report, hitting all analyst targets.
The iPhone maker reported a net income of $7.5 billion, or $8.31 per share (statement). Non-GAAP earnings were $8.26 per share on a revenue of $37.5 billion.
Wall Street was looking for earnings of at least $7.93 on a revenue of $36.84 billion.
Apple shares were up slightly just before the closing bell rang on Monday.
Cupertino was quick to describe Q4 as a “record September quarter” with iPhone sales up by approximately 26 percent annually to 33.8 million units. That figure was undoubtedly helped by the the unveiling of the new iPhones 5C and 5S last month.
Nevertheless, even as iPad sales continue to grow, Mac figures demonstrate Apple is not immune to the PC industry woes either.
iPad sales were up slightly annually to 14.1 million units versus 14 million, while Mac sales were down from 4.9 million in the year-ago quarter to 4.6 million units this time around.
For the fiscal first quarter, Wall Street is banking big time on a combination of the iPad Air prepping to ship this week along with the impending holiday season. Thus, analysts looking for earnings of $13.86 per share on a revenue of $55.65 billion.