Tim Cook, CEO of Apple Inc., during an event at Apple Park campus in Cupertino, California, on Sept. 12, 2023.
David Paul Morris | Bloomberg | Getty Images
Apple now has $162.1 billion in cash on hand, according to the company’s fiscal fourth-quarter earnings report released Thursday.
The figure is below the company’s cash pile from its fiscal third quarter of 2023, when it reported $166.5 billion. Apple had around $166.3 billion in cash during its fiscal second quarter in 2023.
The company regularly maintains one of the largest cash piles in the U.S.
Analysts expected Apple to post its fourth-consecutive quarter of revenue decline Thursday. The company reported $89.50 billion in revenue and $1.46 in earnings per share for its fiscal fourth quarter. Wall Street anticipated $89.28 billion in sales, marking about a 1% fall from the same quarter last year.
The September quarter isn’t usually Apple’s biggest or slowest, and this year, it only includes about a week of iPhone 15 sales. Apple announced its new iPhone 15 product line in early September, and the devices hit shelves later that month.
Apple’s fiscal fourth-quarter period does include some back-to-school laptop and tablet spending, which often benefits its Mac and iPad divisions.
— CNBC’s Kif Leswing contributed to this report.
This story originally appeared on CNBC
