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Apple Inc on Thursday reported strong fourth quarter result in a record year, despite noting a challenging and volatile macroeconomic backdrop.
In the three months ended September 24, the California-based technology firm reported net income of $20.72 billion, up 0.8% from $20.55 billion the previous year.
Basic earnings per share climbed to $1.29 from $1.25 year-on-year.
Revenue jumped 8.1% to $90.15 billion from $83.36 billion. Product sales rose to $70.96 billion from $65.08 billion, while Services sales rose to $19.19 billion from $18.28 billion.
"Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop," said Luca Maestri, Apple's chief financial officer.
"This quarter capped another record-breaking year for Apple, with revenue growing over $28 billion and operating cash flow up $18 billion versus last year," Maestri continued.
In the year ended September 24, sales totalled $394.33 billion, up from $365.82 billion a year prior. Net income rose to $99.80 billion from $94.68 billion, and full-year earnings per share increased to $6.15 from $5.67.
Shares in Apple closed down 3.1% at $144.80 in New York on Thursday. In after-hours trading, the stock was down 0.6%.
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