Apple beats Q4 estimates on top and bottom lines, but iPhone revenue comes up short
For the fourth quarter, Apple saw earnings per share (EPS) of $1.85 on revenue of $102.5 billion. Wall Street analysts were anticipating EPS of $1.77 on revenue of $102.2 billion.
Apple's iPhone business, its most important, brought in $49.03 billion in revenue, shy of expectations of $49.3 billion.
The iPhone 17 lineup includes a number of improvements over the iPhone 16, including design enhancements for the iPhone 17 Pro and Pro Max. Apple also did away with its iPhone Plus model in favor of the iPhone Air, a new entry into the iPhone family that sports a thinner, lighter design.
Importantly, Apple's fourth quarter accounts for a small portion of iPhone 17 sales, as the phones were only on sale for a few weeks ahead of the end of the financial period. Still, any revenue impact helps to provide guidance for the year ahead.
