Apple Inc. today announced its fiscal fourth quarter and full-year results for the fiscal year 2022. According to the report, Apple reported total net revenue of $90.146 billion for the fourth quarter, up 8 percent from $83.360 billion a year earlier, net income of $20.721 billion, up 1 percent from $20.551 billion a year earlier, and diluted earnings per share of $1.29, up 4 percent from $1.24 a year earlier. Apple’s revenue in Greater China increased 6 percent to $15,470 million in the fourth quarter compared with $14,563 million in the same period last year.
Apple’s fourth-quarter earnings per share and revenue beat Wall Street analysts’ previous estimates, but iPhone and services revenue missed expectations, causing its shares to fall nearly 2 percent after hours.
Apple’s Board of Directors declared a cash dividend of $0.23 per share payable on November 10, 2022 to shareholders of record as of the close of business on November 7, 2022.
Fiscal fourth quarter detailed results.
For the fourth quarter ended September 24, 2022, Apple reported net income of $20,721 million, an increase of 1 percent compared to the same period last year, and diluted earnings per share of $1.29, an increase of 4 percent compared to the same period last year. for the fourth quarter of fiscal 2021, Apple reported net income of $20,551 million and diluted earnings per share of $1.24.
Apple reported operating income of $24,894 million in the fourth quarter, compared with $23,786 million in the prior year quarter.
Apple’s gross profit for the fourth quarter was $38,095 million, compared with $35,174 million in the prior year quarter. Apple’s gross margin for the fourth quarter was 42.3 percent, exceeding analysts’ expectations. According to data from Refinitiv, a provider of financial market data and infrastructure, analysts had previously expected Apple’s gross margin to reach 42.1 percent on average in the fourth quarter.
Apple’s total net revenue for the fourth quarter was $90.146 billion, up 8 percent from $83.360 billion in the year-ago quarter.
Apple’s fourth quarter net revenue from products was $70.958 billion, compared with $65.083 billion in the prior year quarter, and net revenue from services was $19.188 billion, compared with $18.277 billion in the prior year quarter.
Apple’s fourth-quarter earnings per share and revenue both beat Wall Street analysts’ previous estimates, but iPhone and services revenue missed expectations, causing its shares to fall nearly 2 percent after hours. According to Yahoo Finance, 26 analysts had previously expected Apple to earn an average of $1.27 per share in the fourth quarter and 22 analysts had expected Apple to generate an average of $88.9 billion in revenue in the fourth quarter.
By region.
Apple’s Americas segment revenue was $39.808 billion in the fourth quarter, compared with $36.820 billion in the same period last year.
Europe revenue was $22,795 million, compared with $20,794 million in the prior year quarter.
Greater China revenue of $15,470 million, up 6 percent compared to $14,563 million in the prior year period.
Japan segment revenue of $5,700 million, compared to $5,991 million in the prior year period.
Rest of Asia Pacific revenue was $6,373 million, compared to $5,192 million in the prior year period.
By Product.
Apple’s fourth quarter revenue from the iPhone was $42,626 million, compared with $38,868 million in the prior-year period, missing analysts’ expectations. According to Refinitiv, analysts on average previously expected Apple to generate $43.21 billion in revenue from the iPhone in the fourth quarter.
Revenue from Macs was $11.508 billion, compared with $9.178 billion a year earlier, exceeding analysts’ expectations. According to Refinitiv, analysts on average previously expected Apple to generate $9.36 billion in revenue from Macs in the fourth quarter.
Revenue from iPad was $7.174 billion, compared with $8.252 billion in the same period last year, missing analysts’ expectations. According to Refinitiv, analysts on average had expected Apple to generate $7.94 billion in revenue from iPad in the fourth quarter.
Revenue from wearables, home products and accessories was $9.650 billion, compared with $8.785 billion a year earlier, exceeding analysts’ expectations. According to Refinitiv, analysts on average had previously expected Apple to generate $9.17 billion in revenue from wearables, home products and accessories in the fourth quarter.
Revenue from services was $19.188 billion, compared with $18.277 billion a year earlier, missing analysts’ expectations. According to Refinitiv, analysts had previously expected Apple’s fourth-quarter revenue from services to average $20.10 billion.
Capital Return Program.
Apple’s Board of Directors declared a cash dividend of $0.23 per share to the Company’s common stockholders, which will be paid on November 10, 2022 to stockholders of record as of the close of business on November 7, 2022.
Fiscal Year 2022 Results Summary.
For the full fiscal year 2022, Apple’s revenue will be $394,328 million, an 8 percent increase from $365,817 million in fiscal 2021.
For fiscal 2022, Apple’s services revenue increased just 14 percent to $78.13 billion, up 14.2 percent from $68.4 billion in fiscal 2021.
Apple’s net income for fiscal 2022 will be $99.803 billion, compared with $94.680 billion in fiscal 2021, and diluted earnings per share will be $6.11, up 9 percent from $5.61 in fiscal 2021.
Apple’s gross profit for fiscal 2022 was $170,782 million, compared with $152,836 million in fiscal 2021.
Apple’s operating profit for fiscal 2022 was $119,437 million, compared with $108,949 million in fiscal 2021.
Stock Price Movement.
On the same day, Apple shares fell $4.55, or 3.05 percent, to close at $144.80 in regular Nasdaq trading.
In subsequent after-hours trading through 5:05 p.m. ET Thursday (5:05 a.m. BST Friday), Apple shares fell another $2.60, or 1.80 percent, to $142.20. Over the past 52 weeks, Apple has traded as high as $182.94 and as low as $129.04.
