Apple Beats Revenue Expectations

What happened

Updated Nov 2, 7:55pm ET

Apple reported fiscal fourth-quarter revenue of about $114.5 billion, beating analysts’ expectations. The company also posted diluted earnings of $2.10 per share, above analyst estimates. The results were John Ternus’s first earnings report as Apple CEO, after he replaced Tim Cook in September. Apple said rising memory costs are squeezing margins because AI data-center demand is competing for the same chips. iPhone revenue rose 17% to a September-quarter record, while Mac revenue grew strongly and iPad revenue fell. Apple forecast holiday-quarter revenue growth and said product price increases would partly offset cost pressure. The iPhone Duo remains supply-constrained, with no clear date for meeting demand.

How the left told it

Left-leaning outlets framed the results as a strong start for Apple’s new era, while stressing cost pressure and shortages more than leadership validation. The Guardian emphasized Apple’s resilience against weaker tech peers and its lighter exposure to costly AI bets. The Verge lingered on product shortages and higher memory costs, linking them to price increases and long customer waits.

How the right told it

Right-leaning outlets framed the quarter as an early test that Ternus cleared, while giving more weight to demand, prices and possible weak spots. The New York Post centered the new CEO’s performance under high expectations. Fox Business emphasized strong iPhone demand despite higher prices and supply constraints. ZeroHedge treated the results as mixed, pointing to China, margins and buybacks.