Apple Nets Record September-Quarter Revenue But Profit Comes in Shy of Estimates

Group 1 - The company reported fiscal fourth-quarter revenue of $94.93 billion, a 6% year-over-year increase, surpassing analysts' expectations of $94.58 billion [1] - Net income was $14.74 billion, or 97 cents per share, which fell short of expectations of $22.49 billion, or $1.48 per share; adjusted EPS was $1.46 after accounting for a one-time tax charge of $10.2 billion [2] - iPhone revenue reached $46.22 billion, exceeding expectations of $45.32 billion, although most sales were from iPhone 15 and older models due to the iPhone 16's late-quarter release [3] Group 2 - Analysts are optimistic about future iPhone 16 sales, with a potential "AI-driven super cycle" anticipated; approximately 300 million iPhones globally have not been upgraded [4] - Shares of the company fell over 1% in extended trading, despite being up 17% for the year prior to the earnings report [5]