Apple announces fiscal 2018 Q4 results; iPhone shipments remain flat year-over-year

Apple announced today that it has generated $62.9 billion in revenue and $14.1 billion in profit in the fourth quarter of its fiscal year 2018, ended September 29. The company's latest financial results indicate that it made more money in the last quarter than it did during the same period a year ago when it posted a quarterly revenue of $52.6 billion.

Regarding the company's robust financial growth in the past quarter, Tim Cook, Apple’s CEO, said:

We’re thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple’s history.

Year-over-year revenue from iPhone sales grew by 29 percent in the past quarter, with Apple generating $37.2 billion compared to $28.8 billion in Q4 2017 and $29.9 billion in Q3 2018. However, the past quarter saw generally flat growth for iPhone shipments, with Apple having sold 46.9 million iPhones, only marginally up from the 46.7 million units shipped in Q4 2017. Nonetheless, it's a significant increase from the third quarter of 2018 when the company sold 41.3 million iPhone units.

Luca Maestri, Apple’s CFO, said:

We concluded a record year with our best September quarter ever, growing double digits in every geographic segment. We set September quarter revenue records for iPhone and Wearables and all-time quarterly records for Services and Mac.

On the other hand, iPad shipments were down in Q4 2018 with 9.7 million units sold during that period compared to 11.5 million in Q3 2018 and 10.3 million in Q4 2017. Meanwhile, revenue from Mac sales increased by 39 percent compared to the previous quarter. Apple's "other products" - including the Apple Watch, AirPods, Apple TV, HomePod, and others - exhibited a 31 percent increase year-over-year and 13 percent growth sequentially.

Apple also posted an all-time high service revenue of nearly $10 billion in the past quarter, up 17% from the same period in 2017.

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