10/27/2022, 10:31 PM (Source: TeleTrader)
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Apple's Q4 net sales above estimates at $90.1 billion

Apple Inc. reported on Thursday that its revenue for the fourth trimester of fiscal 2022 grew 8% on an annual basis to stand at $90.1 billion, beating market expectations. Annual revenue also saw a yearly growth of 8%, coming in at $394.3 billion.

In addition, the diluted earnings per share for the fourth quarter also went above analysts' predictions, reaching $1.29, a 4% increase year over year. Annual earnings per diluted share came in at $6.11, up 9% on a yearly level. Net income rose slightly to $20.7 billion in the three months ending September 24, from last year's $20.5 billion. iPhone sales amounted to $42.6 billion, growing 9.5% in comparison to the same period a year prior. The figure, however, was below the estimates.

CFO Luca Maestri said that Apple's "record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop." Apple's stock lost 0.90% in late trading after the release of the report.

Baha Breaking News (BBN) / AY