Apple Shares Roll in After Hours Trade

 

Shares in Apple Inc. rose to all-time highs in after-hours trading following the company’s fourth quarter earnings report ending September 30. AAPL stock was trading at 173.54 as of 2 p.m. PST, up $5.54 from regular trading.

The Company had quarterly revenue of $52.6 billion, an increase of 12 percent from the year-ago quarter. International sales accounted for 62 percent of the quarter’s revenue.
Net income for the fourth quarter was $10.7 billion. For all of fiscal 2017, Apple had revenues of $229.2 billion and net income of $48.3 billion.
“We’re happy to report a very strong finish to a great fiscal 2017, with record fourth quarter revenue, year-over-year growth for all our product categories, and our best quarter ever for Services,” said Tim Cook, Apple’s CEO. “With fantastic new products including iPhone 8 and iPhone 8 Plus, Apple Watch Series 3, and Apple TV 4K joining our product lineup, we’re looking forward to a great holiday season, and with the launch of iPhone X getting underway right now, we couldn’t be more excited as we begin to deliver our vision for the future with this stunning device.”
“Apple’s year-over-year revenue growth rate accelerated for the fourth consecutive quarter and drove EPS growth of 24 percent in the September quarter,” said Luca Maestri, Apple’s CFO. “We also generated strong operating cash flow of $15.7 billion and returned $11 billion to investors through our capital return program.”
Apple is on a roll now with just released iPhone 8 and the new iPhone X coming to stores on Friday. The company is providing the following guidance for its fiscal 2018 first quarter:
  • revenue between $84 billion and $87 billion
  • gross margin between 38 percent and 38.5 percent
  • operating expenses between $7.65 billion and $7.75 billion
  • other income/(expense) of $600 million
  • tax rate of 25.5 percent