Cupertino-based Apple released its financial results for the fiscal 2023 first quarter ending December 31, 2022. On the other hand, Google released its financial records reporting 10% YoY revenue growth thanks to Pixel devices and cloud subscriptions on the clock.
Apple reported $117 billion in sales in the last quarter of 2022
The financial records dating the last quarter of 2022 ending December 31st, 2022, reveals that Apple sold $65.775Bn worth of iPhones, $7.35Bn worth of Mac, $9.396Bn worth of iPads, $20.766Bn worth of services sales, and $13.482Bn worth of wearables and other accessories. Overall, Apple saw a 5% dip in sales compared to the same period in 2021 with $117.15Bn and $123.945Bn respectively.
The services sales saw a 6% surge compared to 2021 while the overall net income was at -13% at the latest count. Talking about iPhone and other units sold, Apple stopped showing the unit records for quite some time now. However, the sales did see a huge number of units sold in case you go and deduce the same. We also saw the iPhone 14 series launch during the last quarter adding to these numbers as a whole.
Comparing the records saw iPad sales increase almost one-third from $7.28Bn to $9.396Bn in the last quarter of 2022. Finally, Apple currently has a cash flow of $34 billion.
According to Apple’s CEO Tim Cook, the company currently has the best lineup of products and services. CFO Luca Maestri expressed how the numbers mentioned in the records may look like a decline but in actuality, the figures are impressive based on a constant currency basis. It would be childish to not include the ongoing supply chain issues deflecting Apple from achieving its full potential in units sold as well.
Google reported a 10% YoY revenue growth
Google’s parent company Alphabet shared its Q4 and FY 2022 earning reports showcasing figures generated during that time. It booked revenue earnings of $76Bn from October to December 2022 which is almost one-third of the $283Bn it booked during the fiscal year. It saw revenues at $75.3Bn in 2021 during the same period. It shows a 1% increase in 2022 compared to 2021. However, the fiscal year records show a jump of 10% in revenues from $257.63Bn to $282.83Bn as per the official records.
Here, Google Search and others took one of the largest shares at $42.604Bn while Google advertising booked $59.042Bn and Google Services in total took a share of $67.838Bn. It is a dip from 2021’s $69.40Bn. Alphabet also shared how its employee count surged from 156,500 to 190,234 in 2022.
Sundar Pichai – Alphabet CEO, mentioned how the tech giant is reengineering its cost structure to create financially sustainable, vibrant, and growing businesses.