Wow. Apple's only gone and killed off Mac, iPad, iPhone family... figures for units sold to fans

But it has nothing to do with shipments being down. Honest


Cupertino tastemaker Apple Inc has logged yet another record quarter, though investors are worried that sales may be starting to slow.

The renowned creator of the Pippin on Thursday delivered both its fourth quarter and full-year numbers for its fiscal 2018.

For the Q4 FY 2018 period, ending September 29:

  • Revenues of $62.9bn were up 20 per cent from $52.6bn Q4 2017.
  • Net income of $14.1bn was up 32 per cent from $10.7bn last year
  • Earnings per share of $2.91 topped analyst estimates of $2.78.
  • Apple sold around 46.9 million iPhones on the quarter, good for revenues of $37.2bn. While revenues were up 29 per cent, unit sales were flat over the year-ago quarter. Apple has a cunning plan to deal with this (more on that later).
  • iPad unit sales of 9.7 million were down six per cent, while revenue of $4.1bn was down 15 per cent from Q4 2017.
  • Mac shipments hit 5.3 million on the quarter, down 2 per cent. Revenues of $7.4bn, however, were up 3 per cent.
  • Services revenues of $10bn were up 17 per cent year over year. Other products, the category that includes the AppleTV, Apple Watch, and Beats, logged revenues of $4.23bn, up 31 per cent.
  • While revenue in every major market was up, Japan saw the biggest increase, with a 34 per cent year-on-year revenue growth. China revenues rose 16 per cent, while the Americas grew 19 per cent and Europe buyers increased spending by 18 per cent.

For the full 2018 fiscal year:

  • Revenues of $265.6bn were up 16 per cent from $229.2bn in FY 2017.
  • Net income of $59.5bn was up 23 per cent from $48.35bn last year.
  • Earnings per share of $11.91 were up $11.91 were up from $9.21 last year

Apple estimates that the end of the year, its first quarter of the new fiscal year, will bring revenues of $89-93bn.

The new year will also bring a new reporting strategy for Apple, as Cook & Co will stop listing units shipped each quarter, instead reporting only the revenues each part of the company recorded.

Apple claims that the move was only done to simplify the process of reporting, and has nothing to do with the unit numbers being down in recent months while higher prices kept revenues up.

"The number of units sold in every quarter has not been representative of the underlying strength of our business," Apple CFO Luca Maestri told analysts on an earnings call.

"Our product range for all of the product categories have become wider over time, a unit of sale is less relevant for us at this point compared to the past."

Meanwhile, Apple stock is down 6.6 per cent in after-hours trading, mainly due to the weak guidance for the upcoming Christmas shopping season. ®


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