Apple just got its mojo back.
The California-based tech giant — which a year ago had slashed its profit forecast for the first time in 15 years — reported its highest-ever quarterly revenue on Tuesday, driven by better-than-expected holiday demand for iPhones.
Apple’s fourth-quarter revenue jumped 9% from a year earlier to a whopping $91.8 billion, shattering records and blowing past the guidance Apple had given Wall Street. Holiday sales of the new iPhone 11 line were up 8%.
Overall iPhone sales clocked in at $55.96 billion, compared to the $51.5 billion that analysts had been expecting.
Apple said business in China also returned to growth during the quarter after a recent retreat amid US-China trade tensions, racking up $13.6 billion in sales versus $13.2 billion a year earlier.
The company, however, said it’s giving a wider range than usual for its second-quarter revenue forecast — between $63 billion and $67 billion, versus the Street’s view of $62.3 billion — because of uncertainty caused by the coronavirus outbreak.
The virus has impacted travel to and within China for Apple employees, and Apple has closed one store in China while reducing store hours throughout the country.
In a written statement, Chief Executive Tim Cook said he was “thrilled” about strong sales of the company’s iPhone 11 and iPhone 11 Pro models, as well as record sales for its services and wearable divisions.
Sales of the latter surged 37% amid strong demand Apple’s red-hot AirPod wireless earphones, which have been selling briskly despite their $250 price tag.
However, revenue from services, which include the App Store, Apple Music and Apple News — came in at $12.7 billion, missing the $13.07 billion analysts were looking for.
Cook said in a prepared statement that the company’s “active installed base of devices” is now more than 1.5 billion.
The company did not mention its recently released Apple TV Plus streaming service, which it launched to compete with Netflix and Disney+, Disney’s new online video service.
Shares of Apple were up 1.6 percent in extended trading, to $317.69.
