Apple Announces Services Revenue Growth of 24% for Q4 2016, iPhone Sales Drop

, Apple Announces Services Revenue Growth of 24% for Q4 2016, iPhone Sales DropJust a few moments ago, Apple announced the financial results for the fourth quarter (Q4) of its fiscal 2016 year, which ended on the 24th of September, showing a revenue growth of 24 percent for its services.

According to press announcement published this morning, the company made a quarterly net income of $9 billion and quarterly revenue of $46.9 billion, or $1.67 per diluted share, which shows a decline from last year’s Q4 of $51.5 billion quarterly revenue and $11.1 billion quarterly net income, or $1.96 per diluted share.

It appears that the gross margin was 38%, which is also in decline compared to Q4 2015’s 39.9%. However, all sales are down lately according to the new records, and the Cupertino company sold 5% fewer iPhone devices, and iPad and Mac sales are down as well for Q4 with 5% and 14% respectively. Approximately 62% of sales came from international sales.

“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” said Tim … (read more)

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