Tech giant Apple reported its fourth-quarter earnings of $90.1 billion in revenue, an increase of 8 percent year over year.
Total annual revenue also grew by 8 percent, reaching $394.3 billion. The company's board of directors declared a cash dividend of $0.23 per share of the company's stock, according to an Oct. 28 Apple news release.
CEO Tim Cook pointed to the strong results as a sign of optimism for the company heading into the holiday season.
"We continued to invest in our long-term growth plans, generated over $24 billion in operating cash flow and returned over $29 billion to our shareholders during the quarter," Apple CFO Luca Maestri said in the release. "The strength of our ecosystem, unmatched customer loyalty, and record sales spurred our active installed base of devices to a new all-time high. This quarter capped another record-breaking year for Apple, with revenue growing over $28 billion and operating cash flow up $18 billion versus last year."