Apple reported revenue of $90.15 billion in the fourth quarter versus the $88.90 billion expected by analysts, hereby representing an uptick of 8.1 percent year-over-year.
Apple Inc (NASDAQ: AAPL) stock closed Thursday’s market trading at $144.80, down 3.05 percent from the day’s opening price. The Apple company reported its Q4 2022 results on October 27, which beat Wall Street’s expectations. As a result, AAPL shares are up approximately 1 percent during Friday’s pre-market to trade around $146 and a few cents tops.
The $2.4-trillion-worth company announced financial results, which investors have responded to with mixed reactions, for its fiscal 2022 fourth quarter that ended on September 24, 2022.
From a bullish perspective, the company has indicated that it will hand out a cash dividend to its shareholders next month.
“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,” the Apple Q4 2022 report noted.
Apple Financial Statement for Q4 2022
According to metrics provided by Refinitiv, a subsidiary of the London Stock Exchange Group, Apple reported revenue of $90.15 billion in the fourth quarter versus $88.90 billion expected by analysts, hereby representing an uptick of 8.1 percent year-over-year.
The company’s iPhone revenue came in at $42.63 billion versus $43.21 billion estimated by Wall Street, thus a positive change of approximately 9.67 percent year-over-year. Market strategists have blamed the high inflation, with CPI hitting a 40-year high. Additionally, the difference in iPhone’s revenue vs analysts’ expectations has been attributed to the rising uncertainty in global macroeconomic aspects.
During the fourth quarter, Apple announced a Mac revenue of $11.51 billion versus $9.36 billion estimated by analysts, hereby representing a spike of 25.39 percent year-over-year. The iPad’s revenue came in at $7.17 billion during the fourth quarter, whereas analysts surveyed by Refinitiv estimated revenue of $7.94 billion.
The services revenue for Apple during the fourth quarter came in at $19.19 billion, versus the $20.10 billion estimated by analysts.
“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 CFO.
Stock Market Outlook
AAPL shares have dropped approximately 18 percent year to date. Nonetheless, having been rated 41 times in the recent past, the company received an average rating of Over.
The global macroeconomic aspects, including record-high inflation, have stalled big tech companies. Meanwhile, Apple is looking into other revenue-generating activities, including the Web3 sector, which has outperformed recently.
Let’s talk crypto, Metaverse, NFTs, CeDeFi, and Stocks, and focus on multi-chain as the future of blockchain technology.
Let us all WIN!
