Apple has, once again, made an obscene amount of money.
Today, the company announced its earnings for the fourth quarter of 2022. The main number is this: $90.1 billion in revenue in the quarter, an eight percent increase year over year. Annual revenue was also up eight percent year over year to a whopping $394.3 billion.
Tim Cook, Apple’s CEO, said that the company has posted these record numbers as the business heads into the holiday season "with our most powerful lineup ever."
“This quarter’s results reflect Apple’s commitment to our customers, to the pursuit of innovation, and to leaving the world better than we found it. As we head into the holiday season with our most powerful lineup ever, we are leading with our values in every action we take and every decision we make. We are deeply committed to protecting the environment, to securing user privacy, to strengthening accessibility, and to creating products and services that can unlock humanity’s full creative potential.”
Billions were returned to investors this quarter
Luca Maestri, Apple’s CFO, said that the company, in addition to seeing record revenue, "generated over $24 billion in operating cash flow, and returned over $29 billion to our shareholders during the quarter."
“Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop. We continued to invest in our long-term growth plans, generated over $24 billion in operating cash flow, and returned over $29 billion to our shareholders during the quarter. The strength of our ecosystem, unmatched customer loyalty, and record sales spurred our active installed base of devices to a new all-time high. This quarter capped another record-breaking year for Apple, with revenue growing over $28 billion and operating cash flow up $18 billion versus last year.”
Apple's announcement is in stark contrast to companies like Meta and Amazon, who experienced some of their worst days on Wall Street in years today.
