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10/29, 9:32 PM (Source: TeleTrader)
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Apple's revenues rise to $64.7B in Q4, sales miss estimates

Apple announced on Thursday that its revenues rose 8% from the previous three-month period in the fourth quarter of its fiscal 2020 to reach $64.7 billion. The figure rose only 1% year on year as the company delayed its iPhone sales due to the coronavirus pandemic. Earnings per diluted share were $0.73 in the last quarter, decreasing from $0.76 in the same quarter of 2019. Net income declined 7% year on year to $12.7 billion.

Sales per product missed estimates as iPhone sales dropped from $33.4 billion in the last quarter of the fiscal 2019 to $26.4 billion in the same quarter this year.

Meanwhile, in the entire fiscal 2020, Apple's total net sales rose by 5.5% year on year to $274.5 billion. In the same period, net income was up 3.9% to $57.4 billion and diluted EPS went from $2.97 to $3.28.

In after hours trading, Apple shares lost 3.92%.

Breaking the News / VP