Apple Q4 Results Trump Wall Street View

(RTTNews) - Apple Inc. (AAPL) Thursday reported a fourth-quarter profit and revenues that trumped Wall Street estimates. However, shares of the tech giant slipped 5% in the after-hours trading.

Apple's fourth-quarter profit dropped to $12.67 billion or $0.73 per share from $13.69 billion or $0.76 per share last year. On average, 30 analysts polled by Thomson Reuters expected earnings of $0.70 per share for the quarter.

Apple's revenues increased to $64.70 billion from last year's $64.04 billion. Analysts had a consensus revenues prediction of $63.70 billion.

Apple's revenues from iPhones dropped to $26.44 billion from $33.36 billion last year. Mac sales increased to $9.03 billion from $6.99 billion last year, and iPad sales gained to $6.80 billion from $4.66 billion last year. Wearables, Home and Accessories segment improved to $7.88 billion from $6.52 billion last year, while services revenues increased to $14.55 billion from $12.51 billion a year ago.

Apple's Board of Directors has declared a cash dividend of $0.205 per share, payable on November 12, 2020 to shareholders as of the close November 9, 2020.

Looking forward, the company did not provide an outlook for the holiday quarter, which is its strongest quarter. Meanwhile, CEO Tim Cook said the new iPhone 12 line has been well received.

AAPL closed Thursday's trading at $115.32, up $4.12 or 3.71%, on the Nasdaq. The stock, however, slipped $5.21 or 4.52%, in the after-hours trade.