Apple Inc. (NASDAQ: AAPL) on Thursday said its fourth-quarter 2022 profit increased from last year, aided by higher sales. Earnings also topped the market’s expectations.
Net sales of the Cupertino-based gadget giant rose 8% year-over-year to $90.14 billion in the fourth quarter when sales of iPhone grew by 10%. The top line beat the consensus estimates.
In the September quarter, net profit moved up to $20.72 billion or $1.29 per share from $20.55 billion or $1.24 per share in the corresponding period of 2021. The latest number is above Wall Street’s expectations.
Check this space to read management/analysts’ comments on Apple’s Q4 2022 results
Apple’s stock has lost about 16% since the beginning of the year. It closed Thursday’s session lower and lost further in the after-hours following the earnings announcement.
