Apple reported $90.1 billion in revenue in the fourth quarter as demand for the iPhone 14 Pro/Max outstripped supply
Nov 03, 2022| Apple reported $90.1 billion in revenue in the fourth quarter as demand for the iPhone 14 Pro/Max outstripped supply
Apple today released its fiscal fourth quarter and full year results for 2022. Apple reported total net revenue of $90.146 billion in the fourth quarter, up 8% from $83.36 billion a year earlier. Net income was $20.721 billion, up 1% from $20.551 billion a year earlier; Diluted earnings per share were $1.29, up 4% from $1.24 a year earlier. Apple reported revenue from Greater China of $15.47 billion in the fourth quarter, up 6% from $14.563 billion a year earlier.
Apple's fourth-quarter earnings per share and revenue beat Wall Street analysts' expectations, but iPhone and services revenue fell short, sending its shares down nearly 2% after hours.
Tim Cook, Apple's chief executive, said in an interview on Thursday that demand for the iPhone 14 Pro has been high. Apple reported record revenue in the fourth quarter, but iPhone revenue fell slightly short of market expectations. It's important to note that this quarter's iPhone revenue includes just over a week of iPhone 14 and 14 Pro sales. Even so, Apple's iPhone revenue was up nearly 10% year over year, and overall revenue was up 8%.
