Apple expects December quarter revenue to ‘be similar to’ last year despite one fewer week
Apple Chief Financial Officer Luca Maestri said on Thursday that the company expects December quarter revenue to “be similar to” last year despite this year’s fiscal Q1 to contain one fewer week.
Apple didn’t give formal guidance, but finance chief Luca Maestri said the company expected December quarter revenue to “be similar to” last year’s revenue. However, Apple said that the December quarter this year will have one fewer week.
Analysts were looking for $122.98 billion in revenue for the December quarter, which would be a return to year-over-year growth of about 5% in Apple’s most important quarter.
MacDailyNews Take: Apple in its last December quarter (fiscal Q123) posted revenue of quarterly revenue of $117.2 billion.
The tech giant reported $383.29 billion in sales for the full fiscal year, down about 3% from the prior year. Quarterly revenue declined less than 1% in the September quarter.
Apple CEO Tim Cook told CNBC that the iPhone 15 was doing better than the iPhone 14 did during the September quarter last year.
“If you look at iPhone 15 for that period of time and compare it to iPhone 14 for the same time in the year-ago quarter, iPhone 15 did better than iPhone 14,” Cook told CNBC’s Steve Kovach. He added that Apple’s more expensive Pro and Pro Max iPhones suffered supply constraints because of high demand.
Maestri also noted in a statement that Apple’s installed base of devices, or the number of iPhones, Macs, and iPads currently in active use, reached an all-time high during the quarter, although the company did not give an exact number. Analysts say that growth in Apple’s installed base suggests future growth in its services division.
Cook said that Apple had over 1 billion paid subscriptions, which include both Apple’s own services as well as apps on the App Store that bill on a recurring basis.
MacDailyNews Take: Similar earnings year over year despite one fewer week. Even Wall Street analysts will figure it out eventually.
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