Apple Beats Q4 Earnings Estimates, Services Revenue Up To $12.51B

Apple Inc. AAPL shares are moving higher after posting a fiscal fourth-quarter earnings beat.

Earnings came in at $3.03, beating estimates by 20 cents per share. Sales came in at $64.04 billion, beating estimates by $1.05 billion.

Services revenue hit an all-time high of $12.5 billion, up from $10.6 billion in the same quarter last year. iPhone sales totaled $33.36 billion, down from $36.76 billion in the same period last year.

"We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad," CEO Tim Cook said. "With customers and reviewers raving about the new generation of iPhones, today's debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we're very optimistic about what the holiday quarter has in store."

The company sees first-quarter revenue between $85.5 billion and $89.5 billion, compared to the $86.92 billion estimate.

Apple's stock traded higher by 2% in the after-hours session. The stock closed at $243.26 per share, near its all-time high.

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