Apple Reports Stellar Fiscal Q4 Earnings

Record Revenue and Profits Driven by Strong iPhone and Services Demand

Company Raises Guidance for Upcoming Quarter

CUPERTINO, CALIFORNIA, October 27, 2022 - Apple Inc. (AAPL) has released its financial results for the fiscal fourth quarter of 2023, which ended on September 30, 2023. The tech giant reported record revenue of $90.3 billion for the quarter, surpassing analysts' expectations of $90.33 billion. Net income surged to $20.7 billion, representing an increase of 12% year-over-year.

The strong performance was largely driven by continued demand for the iPhone 14 series, which was launched during the quarter. Apple's Services segment also saw significant growth, driven by strong revenue from the App Store, iCloud, and Apple Music.

Despite ongoing supply chain challenges, Apple has maintained a robust manufacturing and distribution network, enabling it to meet the increased demand for its products. The company's commitment to sustainability was also highlighted, with Apple reporting a 50% reduction in greenhouse gas emissions from its global operations.

Based on the strong Q4 results, Apple has raised its revenue guidance for the upcoming fiscal quarter. The company now expects revenue between $90 and $96 billion, indicating continued optimism for the holiday season and beyond.