As expected, Apple released its Q4 revenue report for the fiscal quarter ending September 24, with quarterly revenues reaching an all-time high of $90.1 billion – an 8% increase from the same period last year. Annual revenues were also $394.3 billion, up 8% year on year. Net income increased to $20.72 billion, while earnings per share were $1.29, up 4% from last year.
Despite declining global smartphone sales, iPhone 14 iPhone revenue grew 9.6% to reach 42.63 billion, thanks to the strong performance of the series. The Services category generated $19.18 billion in revenue, followed by Mac revenues ($11.5 billion) and Wearables, Home & Accessories revenue ($9.65 billion).
The Americas remained Apple’s largest market at $38.8 billion, followed by Europe ($22.75 billion) and China ($15.47 billion). After ongoing economic downturns and rising inflation levels, CEO Tim Cook expects a busy holiday season for Apple with its powerful new device lineup.