Apple Reports 4Q 2016 Results: $9B Profit on $46.9B Revenue, 45.5M iPhones

[MacRumors]

Apple today announced financial results for the third calendar quarter and fourth fiscal quarter of 2016. For the quarter, Apple posted revenue of $46.9 billion and net quarterly profit of $9 billion, or $1.67 per diluted share, compared to revenue of $51.5 billion and net quarterly profit of $11.1 billion, or $1.96 per diluted share, in the year-ago quarter.

Gross margin for the quarter was 38 percent compared to 39.9 percent in the year-ago quarter, with international sales accounting for 62 percent of revenue. Apple also declared an upcoming dividend payment of $0.57 per share, payable on November 10 to shareholders of record as of November 7. The company currently holds $237.6 billion in cash and marketable securities.

For the quarter, Apple sold 45.5 million iPhones, down from 48 million in the year-ago quarter. iPad sales were down to 9.3 million from 9.9 million in the fourth quarter of 2015, and Mac sales fell to 4.9 million from 5.7 million.

For the full fiscal year, Apple generated $215.6 billion in sales with $45.7 billion in net income, down from $233.7 billion in sales and $53.4 billion in net income for fiscal 2015. As predicted, 2016 marks the first full-year revenue decline for Apple since 2001.

"Our strong September quarter results cap a very successful fiscal 2016 for Apple," said Tim Cook, Apple's CEO. "We're thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record."

Apple's guidance for the first quarter of fiscal 2017 includes expected revenue of $76-78 billion and gross margin between 38 and 38.5 percent.

Apple will provide live streaming of its fiscal Q4 2016 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference Call and Q&A Highlights are available in reverse chronological order after the jump.


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Article Link: Apple Reports 4Q 2016 Results: $9B Profit on $46.9B Revenue, 45.5M iPhones

 

[ToM7]

the first that post "apple is doomed" is going to hell

 

[jscooper22]

Pretty good considering they must've spent a fortune on a car to nowhere (for a while anyway).

 

[Aussi3]

Wish I had 237.6 billion in cash and marketable securities

 

[samcraig]

If that is TL;DR - here's what you need to know

Apple still made a crapton of money. But after 15 years, they had their first full-year revenue decline.

 

[xmonkey]

iPad net sales not too encouraging...

 

[Floris]

Since 2001, for the first time, .. and people think it's the apocalypse

Nice job on making billions in profit Apple. Keep it up.. like, release an iMac and Mac Pro for example.

 

[ILuvEggplant]

Get ready for that Apple Spin boys !

GREAT products coming down the pipe line!

We have a great interest in that!

 

[navaira]

I wish my profits dropped to only 9 billion dollars

 

[SMIDG3T]

Sold 2.5 million less iPhone's than this time last year.

Apple are Doomed ™

 

[Eddy Munn]

Hardly doom and gloom.

 

[polymersayb]

Something not right with that first plot. X-axis labels are whack, including two Q316...

 

[RickInHouston]

Hardly doom and gloom.

I'm sure no one is high fiving around apple headquarters.

 

[ILuvEggplant]

Sold 2.5 million less iPhone's than this time last year.

Apple are Doomed ™

and macrumor fans were saying that the iphone 7 was a new phone. Clearly the public disagrees.

 

[andy9l]

That's a massive drop in iPhone sales. Especially for a major iPhone update as opposed to an 'S' upgrade.

Over a 5% drop, ouch.

 

[joeblow7777]

iPad net sales not too encouraging...

What about Apple Watch sales, which are somewhere in the "other" category, and according to another article, down 40% since last year.

 

[KPOM]

And the stock is down. I guess they didn't beat expectations by as much as expected.

 

[Larry-K]

Still got fat margins, what else matters?

 

[stevet]

Wish I had 237.6 billion in cash and marketable securities

You mean 237 billion in cash that you can't really do anything with in the US? Yeah, me too...

 

[Peace]

Something not right with that first plot. X-axis labels are whack, including two Q316...

It's new. Thinner and lighter.

 

[realeric]

It's better than expectation with old products. No new Mac mini, no new Mac pros, no new iPad Air, no new iPad mini, no new iPod, no new Apple TV, no new Apple TV services, no new features on Apple watch, no new iMacs... What all Apple employees have done for a year is building the spaceship, expanding showrooms, and making new watch bands.

 

[KPOM]

That's a massive drop in iPhone sales. Especially for a major iPhone update as opposed to an 'S' upgrade.

Over a 5% drop, ouch.

Only 2 weeks of iPhone 7 sales are included. It was actually about 500,000 units more than analysts were expecting.

 

[Moonjumper]

This was a more normal year after some exceptional years. The financials are not something to worry about at this stage.

 

[BuddyTronic]

Looking Good Apple!

 

[applesith]

Amazing revenue and profit for mediocre innovation at best.