Apple reports $9 billion quarterly profit

Apple on Tuesday announced a $9 billion profit for the company’s fiscal fourth quarter on 46.9 billion of revenue. These results compare to revenue of $51.5 billion and net income of $11.1 billion, in the year-ago quarter.

Apple sold 45.5 million iPhones in the quarter, down from the 48 million in the year-ago quarter. The company sold 9.2 million iPads, compared to 9.8 million in the year-ago quarter, and they sold 4.8 million Macs, compared to 5.7 in the year-ago quarter.

“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” said Tim Cook, Apple’s CEO. “We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record.”

Apple stock closed up $0.60 at $118.25, but fell $2.33 to $115.93 in after hours trading.