In the quarter, Apple sold 46.9 million iPhones versus analysts' expectations of 48.4 million handsets.
Looking at the full-year results, Apple's revenues rose from $229.2bn to $265.6bn, with net income up 23 per cent year-on-year to $59.5bn. Even better, Apple CEO Tim Cook ending this quarter's earning call with an odd metaphor about grocery stores and how many "units" you have in your shopping cart. Customer satisfaction for the Apple Watch, he said, was also high, adding that the wearable is among the ways the company can make breakthroughs into the health industry. Meanwhile, Apple's net income was $14.12 billion, nearly 32% up from Q4 of the financial 2017, a significant jump, considering Apple was already one of the most profitable companies in the world.
The technology giant's revenue for the last three months was 62.9 billion dollars (£48.4 billion) - up 20% on the same period previous year - with a profit of 14.1 billion dollars (£10.8 billion).
Mac unit sales were 5.29 million, down 2 percent year-over-year.
Apple continues to sell millions of devices, but the bigger picture is the company's average selling price for iPhone, which was at $793 United States dollars in Q4, a huge surge compared to the year-ago quarter, at $618 USD. Worldwide sales accounted for 61% of the quarters' revenue. But the average selling price of iPhones was $793, well above analyst estimates of $750.78, according to FactSet.
In August, the tech giant became the first $1 trillion publicly traded US business, a milestone reached after it boosted revenue on higher-priced models such as the iPhone X. Yet just three months later, the company spooked investors by announcing it wouldn't disclose the closely watched iPhone sales figure. That beats analysts' expectations of $2.78 earnings per share on revenue of $61.4 billion.
In an unprecedented move, Apple has made a decision to stop revealing the sales figure of iPhone from the first quarter of fiscal 2019.
In a transcript of the earnings call posted on the Seeking Alpha financial blogging site, Apple CFO Luca Maestri explained how the recent tie-up with Salesforce would help the company provide a unique experience for users who access the Salesforce app from iOS. But the move also highlights the company's desire to become more of a services business. The iPad unit sales dropped from 10.3 million of last year to 9.6 million for the last quarter of the financial year this year. The company says it wants to simplify the reporting process, but the reality is that unit numbers are flat while revenue is increasing, so it wants people to focus only on the latter. Some parts of it, like iCloud storage, are likely lucrative, but others, like Apple Music, are probably less so because Apple has to pay music licenses costs and competes with rival Spotify Technology.