Apple Inc. (AAPL) - Get Apple Inc. (AAPL) Report reported fourth-quarter earnings after the closing bell, and the tech behemoth beat on both top and bottom lines, but issued weaker-than-expected guidance.
In addition, on Apple's earnings call with analysts, CFO Luca Maestri notably pointed out that Apple would no longer be providing unit sales numbers for iPhones, iPads and Macs, arguing that these figures don't seem to be well-correlated with the company's overall financial performance.
The stock was sliding close to 7% in post-market trading, after having risen 1.54% in regular trading hours.
Earnings per share came in at $2.91 (diluted), on revenue of $62.9 billion. Net income was $14.3 billion. Analysts expected earnings of $2.78 a share on revenue of $61.45 billion.
"We're thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our two billionth iOS device, celebrated the tenth anniversary of the App Store, and achieved the strongest revenue and earnings in Apple's history," Tim Cook, Apple's CEO said. He added, "we enter the holiday season with our strongest lineup of products and services ever."
Apple sold 46.9 million iPhones and 9.7 million iPads in the quarter, and services revenue accounted for roughly 15.7% of total revenue for the quarter. The slightly weak unit sales came as the company sold plenty of devices, including iPads and Mac Books, for markedly higher prices, something that helps margins, but raises questions about demand and sales volumes.
However, Apple guided for full year 2019 revenue of $89 billion and $93 billion, shy of a $92.94 billion consensus estimate. Apple also declared a dividend of 73 cents per share.
Before the release of its September quarter earnings, Apple shares were up 31% for the year.