Apple reported better-than-expected revenue for the fiscal fourth quarter, driven by stronger-than-anticipated iPhone sales, though iPad sales fell short of estimates, the company said Monday. Revenue rose 12 percent to $114.48 billion from $102.5 billion a year earlier, Apple said in a statement. The company reported earnings per share of $2.10, beating LSEG estimates of $1.99. iPhone revenue reached $57.58 billion, topping estimates of $56.54 billion, while iPad sales came in below expectations. Revenue in the year-ago period was $102.5 billion. During the quarter, Apple raised iPhone prices by $100 worldwide due to global shortages of memory and other components. The iPhone 18 Pro had only eight days of sales in the quarter, and the iPhone Duo was not available until after the period ended. This was Apple's first earnings report under new CEO John Ternus, who succeeded Tim Cook on September 1. Apple Intelligence is set to reach mainland China in December with Alibaba's Qwen model running Siri features. The earnings call, which began at 5 p.m. ET, addressed the company's plans in China following AI software approval and ongoing global shortages of memory and flash storage. Apple's gross margin faced pressure from rising chip costs, with investors watching whether the company can manage component expenses while driving upgrade cycles in key markets.