Apple Q4 2022: Record Revenue of $90.1 Billion for Sept. Quarter
Apple today announced its fiscal Q4 2022 financial results for the period that ended September 24, 2022, recording a new all-time high for the quarter.
The iPhone maker reported $90.1 billion USD in revenue for the fourth quarter, up an impressive 8% year-over-year, with a 4% increase in earnings per diluted share to $1.29. Net income for the quarter reached $20.7 billion.
Annual revenue for Apple’s fiscal 2022 was $394.3 billion, up 8 % year-over-year, with a 9% increase in annual earnings per diluted share to $6.11.
“This quarter’s results reflect Apple’s commitment to our customers, to the pursuit of innovation, and to leaving the world better than we found it,” said Apple CEO Tim Cook.
“As we head into the holiday season with our most powerful lineup ever, we are leading with our values in every action we take and every decision we make. We are deeply committed to protecting the environment, to securing user privacy, to strengthening accessibility, and to creating products and services that can unlock humanity’s full creative potential.”
Apple reported the following net sales by category:
- iPhone: $42.63 billion
- Mac: $11.51 billion
- iPad: $7.17 billion
- Wearables, Home and Accessories: $9.65 billion
- Services: $19.19 billion
While Apple’s Services revenue for Q4 was up 4.98% year-over-year, it dropped off slightly from $19.6 billion in the previous quarter.
Apple beat Wall Street estimates of $88.90 billion in revenue for the quarter. According to the company, the active installed base of devices also reached a new all-time high during the quarter across all major product categories.
“Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop,” said Apple CFO Luca Maestri.
“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.”
As of the end of the fourth quarter, Apple has roughly $26.3 billion in cash and cash equivalents.
Apple said its board of directors has declared a cash dividend of $0.23 per share of the company’s common stock. The dividend will be payable on November 10, 2022, to shareholders of record as of the end of the business day on November 7, 2022.
Apple fell slightly short of Wall Street estimates for iPhone sales. The company is reportedly tinkering with its iPhone 14 production ratio after underwhelming iPhone 14 Plus sales, now leaning more towards upping iPhone 14 Pro orders.
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