Apple seems to be weathering it financial stormIt was a success, but with some hiccups. The company reportedThe company had an unprecedented revenue record of $90.1 billion for its fourth quarter and a net profit totaling $20.7 billion. These were slight increases in revenue compared to the same period last years (revenue was only up 8 percent), but they were made despite a tough economic environment. Near-flat revenue growthIn the preceding quarter.
These issues are mainly due to mixed performance across Apple’s product line. It shouldn’t surprise anyone to learn that the iPhone 14 debutThe company’s mobile revenues ($42.6 billion, compared to $38.9 million last summer), were a major driver of its growth. However, other segments were volatile. The company’s mobile revenue was $42.6 billion, compared to $38.9 billion last summer. However, other segments were volatile. MacBook Air M2 helped Mac revenue jump 25 percent to $11.5 billion, iPad sales dropped sharply — they fell to just under $7.2 billion versus nearly $8.3 billion a year earlier. Even though Apple Music and TV+ have set a new record at $19.2 Billion, it’s still a small increase over the $18.3 Billion from last year. The Apple Watch and smart home devices sales grew steadily from $8.8 to $9.7 billion.
At least, the customer base seems strong. Luca Maestri, Apple’s CFO, stated that approximately half of iPad and Mac buyers were new to the platform during its earnings call. Apple also claimed a record (but not specified) number of active devices. Tim Cook, CEO of the company, stated that sales were strong despite limited supply for the iPhone 14 Pro Max and Pro Max.
Apple’s first quarter of fiscal 2023) could be brighter in the fall. Apple introduced New iPadsIt released new models in September and October this year. We can expect an increase in tablet sales. Cook said that the sales last year were “unusually strong”, thanks to the release of updated models in September. iPad Pro M1 launch. The iPhone 14 family also was available for only eight days during the fourth-quarter, which should help to improve overall iPhone sales.
Apple is not out of trouble just yet. Apple is still hiring cautiously and there are supply problems (including for the Apple Watch UltraCook claims that the company may be plagued by this for some time. It’s not yet clear how people will respond to devices like this. iPhone 14 PlusThis month, Apple shipped the, but it didn’t arrive until October. Apple may still be happy. The computer market TankedGartner estimates that 19.5 percent of the quarter’s revenue was generated by Canalys Believes smartphone shipments dropped 9 percent. These numbers are reasonable and Apple is still thriving by avoiding dramatic declines in all categories.
Engadget recommends only products that have been reviewed by our editorial staff. This is independent from our parent company. Some stories may contain affiliate links. Affiliate commissions may be earned if you make a purchase through any of the links. All prices correct at time of publishing.
