Apple Inc (NASDAQ:AAPL) reported record revenue of US$90.1 billion for its fiscal fourth quarter 2022, up 8% year over year, as it increased sales of iPhones and Mac computers, but fell short of projections.
Apple’s earnings per share for the quarter ended September 24 were US$90.15 billion, beating analyst expectations of $88.9 billion. Earnings per share came in at US$1.29, up 4% year over year, topping the $1.27 per share expected by analysts.
But iPhone revenue came in at $42.63 billion, up 9.67% year-over-year, but short of Street expectations of over $43.2 billion. The key Services sector also saw a slight year-over-year bump to $19.19 billion, again just short of $20.1 billion expectations.
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Apple CFO Luca Maestri said September’s results continue to demonstrate the company’s ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop.
"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. 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," Maestri said in a statement.
Mac revenue was $11.51 billion, up 25.39% year-over-year. On the other hand, iPad revenue of $7.17 billion was down 13.06% year-over-year.
Apple CEO Tim Cook said: "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.”
Apple shares were trading at US$144, down by 3% after the closing bell.
Contact the author at susie@proactiveinvestors.com