Apple Posts Stronger Fourth-Quarter Revenue Under New CEO John Ternus

Apple Inc. reported fiscal fourth-quarter revenue of $114.5 billion, rising 12 percent year-on-year and beating analyst expectations.

The Cupertino-based company earned $30.71 billion, or $2.10 per share, in the July-September period, including 5 cents from tariff refunds.

Apple projected a lower gross margin of 45 to 46 percent for the December quarter due to rising memory costs and Siri AI release expenses.