Apple reports revenue growth as rising memory costs pressure margins
Technology · First reported 2 Nov, 05:05 · Updated 05:58
Apple reported September-quarter revenue of about $114.5 billion, while warning that higher memory costs are expected to weigh on holiday-quarter margins. Coverage also highlights inventory growth, earlier device price increases and iPad sales below expectations.
- Apple reported September-quarter revenue of $114.5 billion, up 12% year over year and above analyst expectations.
- The company said gross margin was 47.9% in the September quarter and forecast 45%–46% for the December quarter, citing higher memory costs and, in one account, Siri AI expenses.
- Inventory rose to $14.54 billion in Q4 from $11.09 billion in Q3; Apple said its manufacturing purchase obligations increased by $33 billion from June to September.
- Apple’s iPad revenue was $6.2 billion, down 10% year over year and below analysts’ $6.7 billion estimate; the company attributed weak sales to supply constraints.
Summary written by Lux AI from 6 articles
Key facts
- September-quarter revenue
- $114.5 billion, up 12% year over year
- September-quarter gross margin
- 47.9%
- December-quarter gross margin forecast
- 45%–46%
- Q4 inventory
- $14.54 billion, compared with $11.09 billion in Q3
- iPad revenue
- $6.2 billion, down 10% year over year
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