Apple reports fourth-quarter growth driven by iPhone sales

At a glance

iPhone revenue reached $57.58 billion, an increase of 17 percent over the prior year.3 4
The company cautioned that component costs for memory chips continue to rise.1 2 5
The results marked Apple's first quarterly financial report under CEO John Ternus.4 5 6

Apple exceeded financial expectations for its fiscal fourth quarter ending in September, led by strong consumer demand for iPhones.5 6

Revenue from the iPhone line expanded 17 percent compared to the same period last year, reaching $57.58 billion.3 4

The earnings release was the company's first under the leadership of chief executive John Ternus.4 5 6

Apple also warned that it continues to face rising expenses for memory chip hardware.1 2 5

Where sources agree

iPhone sales drove fourth-quarter performance4 of 6
Memory chip component costs are climbing3 of 6
Report was Apple's first under CEO John Ternus3 of 6
iPhone revenue reached $57.58 billion, up 17%2 of 6

Who covered this

6 National

Sources

Based on reporting from these reputable newsrooms and reviewed by Orbit’s editors. A fact appears only when at least two sources report it. Orbit is not affiliated with these publishers.

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