Despite the economy, Apple saw a great fiscal fourth quarter

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Apple has released information about its fiscal 2022 fourth quarter, which ended September 24, 2022. Despite the grim economic backdrop, the company saw record quarter revenue of $90.1 billion, up 8% compared to the same period year-over-year. It also saw annual revenues of $394.3 billion, which was also up 8% year-over-year. In addition to a good financial report, the company said its active installation base of devices reached all-time highs for all major product categories.

Commenting the on the data, Luca Maestri, Apple’s CFO, said:

“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.”

For those holding shares in the company, Apple said that it will pay out a cash dividend of $0.23 per share of the company’s common stock. You must be holding Apple stock by November 7 to receive the cash dividend on November 10.

Going forward, Apple CEO Tim Cook appears bullish on the company’s prospects. He said that Apple is heading into the holiday season with its most powerful line-up ever, while sticking to principles such as preserving privacy and protecting the environment. Only time will tell if fans remain dedicated to the brand despite all the economic issues.

Source: Apple

News Article Courtesy Of Paul Hill »