(Alliance News) - Apple Inc on Thursday reported strong fourth quarter result in a record year, despite noting a challenging and volatile macroeconomic backdrop.

In the three months ended September 24, the California-based technology firm reported net income of USD20.72 billion, up 0.8% from USD20.55 billion the previous year.

Basic earnings per share climbed to USD1.29 from USD1.25 year-on-year.

Revenue jumped 8.1% to USD90.15 billion from USD83.36 billion. Product sales rose to USD70.96 billion from USD65.08 billion, while Services sales rose to USD19.19 billion from USD18.28 billion.

"Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop," said Luca Maestri, Apple's chief financial officer.

"This quarter capped another record-breaking year for Apple, with revenue growing over USD28 billion and operating cash flow up USD18 billion versus last year," Maestri continued.

In the year ended September 24, sales totalled USD394.33 billion, up from USD365.82 billion a year prior. Net income rose to USD99.80 billion from USD94.68 billion, and full-year earnings per share increased to USD6.15 from USD5.67.

Shares in Apple closed down 3.1% at USD144.80 in New York on Thursday. In after-hours trading, the stock was down 0.6%.

By Heather Rydings; heatherrydings@alliancenews.com

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