The American corporation Apple reported on the fourth quarter and the full fiscal year 2023, which ended on September 30. The company’s revenue in the fourth quarter decreased by 1%, amounting to $89.5 billion, so the figure decreased for the fourth consecutive quarter.
Net profit for this period increased by 11% and reached almost $23 billion.
For the year as a whole, Apple’s revenue fell almost 3% to $383 billion, and net profit also fell about 3% to $97 billion.
Apple’s revenue decline was primarily due to declining sales in China, which is the company’s third-largest market.
Individual Apple products showed quarterly sales growth: iPhone sales grew by 2.8%, reaching $43.8 billion. Revenue from services also increased notably (Apple Music streaming music service, Apple TV+ video service) by 16% to $22.3 billion.
Mac sales fell 33% in the quarter to $7.6 billion, and iPad sales fell 9% to $6.4 billion.
Investors were concerned about the company’s management’s announcement that in the first quarter of the next fiscal year the corporation’s revenue would be approximately at the same level as last year. Following the release of the report, Apple shares fell 3%.
Author:
Anastasia Marina
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
