Apple generated net income of $30 billion, or $1.88 a share, compared with $34.6 billion, or $2.10 a share, a year earlier. Production issues in China seemed to impact $AAPL far more than expected in the holiday quarter:
Production issues in China seemed to impact Apple far more than expected in the holiday quarter, as the consumer-electronics giant delivered a miss for its iPhone category after the close of Thursday trading.
The performance comes after Apple warned in November that its iPhone 14 Pro and Pro Max shipments would be impacted by pandemic-fueled production constraints at a major Foxconn 2354, +2.55% facility in China.Overall revenue for the December quarter fell to $117.2 billion from $123.9 billion a year prior, while the FactSet consensus was for $121.4 billion.
After reporting a quarterly revenue record for Macs in the September quarter, Apple fell way short of those heights in the December quarter and missed expectations by a wide margin. Mac sales declined to $7.7 billion from $10.9 billion a year earlier, while analysts had been looking for $9.4 billion.
Revenue for wearables, home and accessories came in at $13.5 billion, down from $14.7 billion a year before, whereas analysts were modeling $15.3 billion. Services revenue rose to $20.8 billion from $19.5 billion and beat the FactSet consensus, which was for $20.4 billion.
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