Mac Sales Rise, Stock High, Earnings Call, Bioshock Remastered
Mac Sales Rise, Stock High, Earnings Call, Bioshock Remastered >>> https://urlgoal.com/2tvnOA
Apple's Mac sales soar to record high as iPhone 14 and Bioshock remastered boost earnings
Apple Inc. reported its best ever quarter for Mac sales, as the company benefited from strong demand for its laptops and desktops amid the pandemic and the launch of its new iPhone 14 line and Bioshock remastered game.
The tech giant posted revenue of $90.1 billion for the fiscal fourth quarter, up 8% from a year ago and beating analysts' expectations of $88.7 billion. Earnings per share were $1.40, also ahead of estimates of $1.24.
Apple's Mac segment was a standout performer, generating $11.5 billion in revenue, up 25% year-over-year and setting a new quarterly record. The company attributed the growth to the popularity of its MacBook Air with its custom M2 chip, as well as easing supply constraints that allowed it to meet pent-up demand.
"We are very pleased with our Mac performance this quarter," said CEO Tim Cook on a conference call with analysts. "We saw very strong double-digit growth in each geographic segment and set all-time revenue records in the US, Europe, Japan and rest of Asia Pacific."
Cook also said that the Mac category benefited from the release of Bioshock remastered, a highly anticipated game that was exclusively available on Apple devices for a limited time. The game, which is a remake of the 2007 classic first-person shooter set in an underwater dystopia, sold more than 10 million copies in its first week and received rave reviews from critics and fans alike.
"Bioshock remastered was a huge hit for us and our customers," Cook said. "It showcases the power and performance of our M2 chip and the stunning graphics and immersive gameplay that our Macs can deliver."
Apple's iPhone business also performed well, despite missing analysts' projections by a slight margin. The company reported $42.6 billion in iPhone revenue, up 9% from a year ago but below the consensus estimate of $43 billion. Cook said that the iPhone 14 line, which features 5G connectivity and a new design, saw strong consumer demand and better than expected sales.
"We are thrilled with the initial response to iPhone 14," Cook said. "It is the most advanced smartphone we have ever made and it offers an unparalleled user experience with 5G."
Apple's other segments also posted solid results. Services revenue grew 16% to $18.3 billion, driven by growth in Apple Music, Apple TV+, iCloud and Apple Pay. Wearables, home and accessories revenue increased 11% to $8.8 billion, led by strong sales of Apple Watch, AirPods and HomePod mini. iPad revenue rose 21% to $8.9 billion, boosted by the launch of the new iPad mini.
Apple's stock rose 2.4% in after-hours trading following the earnings release, as investors shrugged off the company's cautious outlook for the holiday quarter. Apple did not provide specific guidance, but CFO Luca Maestri warned that revenue growth would slow down sequentially due to currency headwinds, tough comparisons for the Mac business and supply chain challenges.
"We expect supply constraints during the December quarter to be greater than what we experienced during the September quarter," Maestri said. "The constraints will primarily impact iPhone and iPad."
Despite these challenges, Cook expressed confidence in Apple's ability to innovate and delight its customers with its products and services.
"We are very excited about our pipeline of new hardware, software and services," Cook said. "We believe that we have never been more relevant to our customers' lives than we are today." aa16f39245