Apple today announced financial results for its fiscal 2022 fourth quarter ended September 24, 2022. The Company posted a September quarter record revenue of $90.1 billion, up 8 percent year over year, and quarterly earnings per diluted share of $1.29, up 4 percent year over year. Annual revenue was $394.3 billion, up 8 percent year over year, and annual earnings per diluted share were $6.11, up 9 percent year over year.
Analysts’ consensus estimates (per Refinitiv) called for Apple to report EPS of $1.27 per share on revenue of $88.90 billion.
“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 Tim Cook, Apple’s CEO, in a statement. “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.”
Quarterly net sales by category:
• iPhone: $42.626 billion (vs. $38.868 billion YoY)
• Services: $19.188 billion (vs. $18.277 billion YoY)
• Mac: $11.508 billion (vs. $9.178 billion YoY)
• Wearables, Home and Accessories: $9.650 billion (vs. $8.785 billion YoY)
• iPad: $7.174 billion (vs. $8.252 billion YoY)
Annual net sales by category:
• iPhone: $205.489 billion (vs. $191.973 in 2021)
• Services: $78.129 billion (vs. $68.425 billion in 2021)
• Mac: $40.177 billion (vs. $35.190 billion in 2021)
• Wearables, Home and Accessories: $41.241 billion (vs. 38.367 billion in 2021)
• iPad: $29.292 billion (vs. $31.862 billion in 2021)
“Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop,” said Luca Maestri, Apple’s CFO, in a statement. “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.”
Apple’s board of directors has declared a cash dividend of $0.23 per share of the Company’s common stock. The dividend is payable on November 10, 2022 to shareholders of record as of the close of business on November 7, 2022.
Apple will provide live streaming of its Q4 2022 financial results conference call beginning at 2:00 p.m. PT on October 27, 2022 at apple.com/investor/earnings-call. This webcast will be available for replay for approximately two weeks thereafter.
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Big gain for iPhones, around 10%. In a slumping PC market, that is a monster win for Mac above 20%. Wearables nicely upwell above 10%. iPad, ugly 10% drop. Big ugly for Services. It’s grown was only mid single digits. That category has been the growth engine.
Thanks Tim and Team… u guys are magicians!🙏👊🏼🤙🏼
Bravo, but I’m telling you – the ‘Services’ win is undercut by the slimy way they’re getting into the ads business… just… like… Google.
Too bad this quarter has that every six years extra week. So market reaction needs to be understood in light of that.