Apple’s Q4 report shows a decline in Apple’s iPhone sales while the brand has reached a new milestone
Just another report from one of the biggest phone brands in the world showing how they generated their revenue and profits. Sadly, Apple’s Q4 report shows a decline in Apple’s iPhone sales but there’s something to be very proud of.
Details of Apple’s Q4 report
According to Apple’s Q4 report, total revenue and sales decreased year over year due to supply chain challenges with insufficient inventories. The corporation emphasized some of the bright spots in the otherwise grim picture, such as the fact that it now has 2 billion active devices in use and an all-time high income in the Services division – a milestone.
Total sales for the three months ended December 31, 2022, were $117.1 billion, compared to $123.9 billion for the same time a year earlier. The net income of about $30 billion is a 13% decrease from $34.6 billion.
Apple has long ceased disclosing unit counts and now just publishes revenue by category. Although iPhones account for more than half of all sales, they are down 8% from last year. Between October and December 2022, the Services division generated $20.8 billion in sales, a 6% increase year on year. The only other product category that witnessed a minor increase was iPads, which increased by nearly 30% from $7.2 billion to $9.3 billion.
Tim Cook, Apple’s CEO, stated the business had “the greatest range of goods and services ever”. According to CFO Luca Maestri, revenue may appear to be down on paper, but it increased on a constant currency basis. With a $0.23 cash dividend per share, the corporation earned $34 billion in cash flow and returned more than $25 billion to shareholders. So there you have it, Apple’s Q4 report, ups and downs.