AP NEWS

Apple: Fiscal 4Q Earnings Snapshot

October 30, 2019

CUPERTINO, Calif. (AP) _ Apple Inc. (AAPL) on Wednesday reported fiscal fourth-quarter earnings of $13.69 billion.

On a per-share basis, the Cupertino, California-based company said it had profit of $3.03.

The results topped Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $2.84 per share.

The maker of iPhones, iPads and other products posted revenue of $64.04 billion in the period, which also beat Street forecasts. Eight analysts surveyed by Zacks expected $62.72 billion.

For the current quarter ending in January, Apple said it expects revenue in the range of $85.5 billion to $89.5 billion. Analysts surveyed by Zacks had expected revenue of $86.18 billion.

Apple shares have risen 54% since the beginning of the year, while the Standard & Poor’s 500 index has risen 22%. In the final minutes of trading on Wednesday, shares hit $243.26, a climb of 14% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAPL at https://www.zacks.com/ap/AAPL