CHART: Apple’s revenue reached $90 billion in Q4 2022, up 8% YoY beating estimates

Apple’s strong performance stood out among other Big Tech companies whose Q3 numbers weren’t as favourable after it announced an 8% revenue growth in its financial results for its fiscal 2022 fourth quarter, which ended September 24, 2022, an 8% increase compared to the same time last year, beating experts' estimate of $88.90 billion.

The company valued at $2.5 trillion reported a September quarter record revenue of $90.1 billion, up 8% year over year, and quarterly earnings per diluted share of $1.29, up 4% year over year. Annual revenue was $394.3 billion, an increase of 8% year over year, and annual earnings per diluted share were $6.11, up 9% year over year.

The tech giant also reported a marginal increase in a net profit of $20.7 billion ($1.29 per share against an estimate of $1.27) from the $20.5billion in the year before - 2021. The Annual net profit however rose by 5%, from $94.6billion to $99.8 billion at the end of the fiscal year in September 2022.

Other highlights:

• iPhone revenue: $42.6 billion vs. $38.9 billion in Q4 2021, up 8.8% year-over-year
• Mac revenue: $11.5 billion vs. $9.2 billion in Q4 2021, up 20% year-over-year
• iPad revenue: $7.2 billion vs. $8.3 billion Q4 2021, down 15.3% year-over-year
• Wearables, Home and Accessories revenue: $9.7 billion vs. $8.8 billion Q4 2021, up 9.3% year-over-year
• Services revenue: $19.2 billion vs. $18.3 billion Q4 2021, up 4.7% year-over-year
• Gross margin: 42.3% vs. 42.1% estimated

Apple did not provide an official financial outlook for its first fiscal quarter of 2023 which ends in December and contains Apple’s biggest sales season of the year. It hasn’t provided guidance since 2020, citing uncertainty.