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As expected, Apple released its Q4 earnings report for the fiscal quarter ending on September 24 and quarterly revenues sitting at an all-time high of $90.1 billion – an 8% increase compared to the same time last year. Yearly revenues are also up 8% YoY at $394.3 billion. Net income grew to $20.72 billion while earnings per share rose to $1.29 – a 4% increase compared to last year.
Apple Q4 2022 earnings report
Despite dwindling global smartphone shipments, iPhone revenue grew by 9.6% to 42.63 billion thanks to robust iPhone 14 series performance. The Services category accounted for $19.18 billion in revenues followed by Mac revenues ($11.5 billion) and Wearables, Home and Accessories revenues ($9.65 billion).
The Americas remained Apple's top market in terms of net sales with $38.8 billion followed by Europe ($22.75 billion) and Greater China ($15.47 billion). In the wake of ongoing economic downturns and rising inflation levels, CEO Tim Cook expects a busy holiday season for Apple with its powerful new lineup of devices.
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