Even with a record quarter of billing, Apple avoids disappointment – Technologies

Apple closed its fiscal fourth quarter, ending Sept. 26, as the best-ever in billing. Revenue amounted to US$83.4 billion, a year-on-year increase of 29%, but analysts expected more, pointing to US$84.9 billion. Result? Shares in the tech giant fell 5% in after hours trading.

The company’s CEO, Tim Cook, indicated that the “supply constraints were greater than we anticipated and we estimate they cost $6 billion.”

And iPhone revenue also missed market expectations, even though it grew 47% to $38.9 billion. Analysts had expected a turnover in the order of 41.5 billion and, they note, this increase is inflated by the fact that this year the new model, the iPhone 13, had a week of sales in the fourth fiscal quarter, contrary to what happened in 2020.

But it wasn’t just the famous smartphones that failed analysts’ estimates. Revenues from other products such as Apple Watch and Air Pods, as well as Macs also fell short. On the positive side only iPad sales.

Luca Maestri, Apple’s CFO, also indicated that production disruptions related to the pandemic “greatly increased” in October and that the shortage of chips continues, predicting a lower-than-expected first fiscal quarter, which encompasses the holiday season. .

Profits for the last fiscal quarter amounted to $20.551 billion, a year-on-year increase of 62.2%.

Since April 2016, Apple has not recorded a quarter without surpassing analysts’ estimates for earnings and since May 2017 it has not had revenues below market expectations, according to data from Refinitiv.

In terms of fiscal year 2021, Apple earned 94.7 billion dollars, 64.9% more than in 2020.

Turnover, in turn, grew by 33%, reaching 365.8 billion dollars.

Source: Jornal de Negócios by www.jornaldenegocios.pt.

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