Apple reported revenues of USD 64.7 billion for its fiscal fourth quarter to September, up just 1 percent from a year earlier. Growth came from Mac computers and services, offsetting a drop in iPhone sales ahead of the release of new products in October. The company's net profit fell to USD 12.7 billion from USD 13.7 billion on an increase in R&D and other operating costs.
The slowdown in sales was most evident in the Greater China region, where revenue fell 28.6 percent to USD 7.9 billion. Sales were still up slightly in the rest of Asia and the Americas, and Europe showed healthy growth of 13 percent to USD 16.9 billion in revenues.
As for products, demand for home work and remote learning drove Mac sales 29 percent higher year-on-year to a record USD 9.0 billion. Revenues from iPads rose an even stronger 46 percent to USD 6.8 billion, and wearables and home products increased by 20.8 percent to USD 7.9 billion. Apple's expanded services line-up drove a 16.2 percent rise in services revenue to USD 14.5 billion, helping offset the 20.7 percent fall in iPhone sales to USD 26.4 billion.
Apple said the initial response to the new product line-up had been "tremendously positive". However, the company did not provide a forecast for the coming quarter. The quarterly dividend was maintained at USD 0.205 per share.
