Apple announced on Thursday quarterly profits that exceeded Wall Street estimates, driven by sales of iPhones and its services.

The technology giant's net income in the fourth quarter of its fiscal year was approximately $27.46 billion, or $1.85 per share, up from $14.3 billion, or $0.94 per share, in the previous year.

Analysts had expected an average price of $1.77 per share. Analyst estimates typically exclude special items.

Apple CEO Tim Cook said in a statement: “Apple is proud to report record September quarter revenue of $102.5 billion, including record iPhone revenue for the September quarter and record services revenue all-time.”

Apple's board of directors announced a cash dividend of $0.26 per share.

Revenue: iPhones and services shine

Although total iPhone sales, which represent the heart of the company’s business, did not fully meet market expectations, it still generated revenues of $49 billion, a 6 percent increase compared to the same quarter last year.

Angelo Zeno, vice president of CFRA Research, considered this performance, despite the slight shortfall, to be encouraging given the successful launch of the iPhone 17 lineup in September.

The services sector, which sells digital content and subscriptions to Apple device users, performed exceptionally well, generating $28.8 billion in revenue, an increase of approximately $3 billion over the same quarter last year, which analyst Zeno described as the most outstanding performance.

Cook also noted that these results come at the end of an exceptional year for Apple, in which we achieved record revenues for the fiscal year of $416 billion, a 6 percent increase over 2024, predicting that the current fiscal quarter will be the best ever for the company.

Apple is increasing its investment in artificial intelligence.

In the earnings call, Cook focused on Apple's latest hardware and the company's efforts to enhance products and services with artificial intelligence, under pressure to prove that it is not lagging behind in the AI revolution.

Apple Intelligence features:

Cook promoted new Apple Intelligence features, such as real-time language translation during iPhone calls.

A more personalized Siri: Cook promised to launch a more personalized digital assistant, Siri, next year.

Apple silicon is the foundation: Cook emphasized that the company's custom chips, called Apple silicon, are at the heart of everything... These incredibly advanced chips make Apple products the best place to experience the power of artificial intelligence.