After closing on Monday, Apple announced its fourth-quarter financial report, and driven by strong iPhone sales, both revenue and profits exceeded expectations.

This is Apple's first earnings conference call under the leadership of the new CEO John Ternus, who took over from Tim Cook on September 1st to assume the role of CEO.

This quarter, Apple's earnings per share ( EPS ) were $2.10, with revenue reaching $114.48 billion. Analyst consensus forecasts indicate that Wall Street previously expected earnings per share to be $2 and revenue to be $113.46 billion.

Last year at this time, the company's earnings per share were $1.85, and revenue was $102.46 billion. Revenue in the Greater China region fell short of expectations, at $17.54 billion, compared to an expected $18.75 billion. Apple's iPhone sales amounted to $57.58 billion, which is higher than the expected $56.48 billion.

Services is Apple's second-largest business segment, with revenue of $31.57 billion, and the forecast is $31.58 billion. Apple's Mac business revenue is $10.79 billion, while analysts previously forecasted it to be $9.69 billion.

Wearable devices and iPad contributed $8.3 billion and $6.23 billion respectively.