Apple reported $46.9 billion in net income and diluted earnings per share of $1.67. Gross margin was 38% for the quarter compared to 39.9% in the year-ago quarter.
While these values were slightly lower compared to the fiscal fourth quarter of 2015, Apple’s service revenue reached an all-quarter high of $6.3 billion in the most recent quarter, likely due to increased iPhone 7 sales and Samsung terminating its Note 7.
For the first quarter of its fiscal 2017, Apple expects its revenues to reach US$76-78 billion with a gross margin of 38-38.5% and its operating expenses to reach US$6.9-7 billion.
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Apple Reports Strong Fiscal 4th Quarter Earnings