Apple is one of the few tech companies that has reported favorable performance across the board in its Q4 FY2022 financials. The Cupertino giant not only reported record revenue but was also highly profitable during the final quarter of its latest fiscal year.
For the quarter ending on September 24, Apple’s quarterly revenue was at an all-time high of $90.1 billion, which was an 8% increase compared to last year. Yearly revenues also improved by 8% to reach $394.3 billion and net income increased to $20.72 billion. The earnings per share figure also grew by 4% to reach $1.29 compared to last year.
Apple remains unaffected by the downturn in smartphone shipments with its revenue growing by 9.6% to reach $42.63 billion thanks to the recent iPhone 14 launch. The company’s Services category generated $19.18 billion in revenues while Mac revenues accounted for $11.5 billion. The Wearables, Home, and Accessories division brought in $9.65 billion.
The US was Apple’s biggest market yet again in terms of net sales valued at $38.8 billion, followed by Europe at $22.75 billion and China bringing in $15.47 billion. Going forward, Apple CEO Tim Cook expects a busy holiday season for Apple amid ongoing economic downturns and rising inflation levels. He also expects great returns from its upcoming lineup of devices.
Recently, the American phone maker has confirmed that USB C iPhones are coming eventually due to new laws for electronic devices in the EU. This was confirmed by Apple’s VP of worldwide marketing, Greg Joswiak, who said “Obviously, we’ll have to comply; we have no choice.” once he was asked about the change of ports.
However, it is quite possible that Apple will only ship USB C iPhones to Europe while it will continue to sell the usual Lightning ports to the rest of the world. This is because the VP also said “the Europeans are the ones dictating timing for European customers.” But there is no confirmation of this yet.
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