Apple Earnings Highlight Double-Digit Earnings Growth
In its just-posted quarterly results, (NASDAQ: AAPL) flexed its profitability muscles. Even though revenue fell slightly during the period, earnings per share (EPS) jumped 13% year over year. This was fueled by the tech company's aggressive share repurchase program and product mix shift toward its lucrative services segment.
Here's a closer look at some of the most important takeaways from the quarter.
Though shareholders would be happier if Apple's total revenue for the fiscal fourth quarter didn't fall 1% year over year, there were still some good reasons to be pleased with the quarter's sales trends. Apple's services revenue hit an all-time quarterly high during the period. It increased 16% year over year to $22.3 billion. Showing how significant the business is becoming to Apple, it accounted for a fourth of fiscal Q4's total revenue.
Source Fool.com
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