Apple’s last quarter of 2022 sales decreased by 5 percent.
Alphabet’s revenue fell short of market expectations at $76.1 billion in the last quarter of last year, while Amazon’s sales surpassed expectations at $149.2 billion in the same period.
The balance sheets of Apple, Amazon and Alphabet 2022 for the October-December period were announced.
While the revenues of US technology giants Apple and Alphabet, the parent company of Google, fell short of expectations in the October-December period of last year, Amazon’s sales exceeded market expectations in the same period.
Shares of Google, Apple and Amazon also fell sharply, while tech stocks fell in post-closing trading following the release of the balance sheets.
APPLE’S INCOME DROPPED
According to the statement made by Apple, the sales of the company, which considered the October-December period of last year as the first quarter in its balance sheet, decreased by 5 percent compared to the same period of the previous year and fell to 117.2 billion dollars. The company had revenue of $123.9 billion in the same period of 2021.
Thus, Apple experienced a year-on-year decline in sales for the first time since 2019. The company’s revenue in the same period also fell short of market expectations of $121.1 billion.
Apple’s net profit, on the other hand, decreased by 13 percent in the October-December period of 2022 compared to the same period of the previous year, falling to $ 30 billion. The company’s net profit was recorded as $34.6 billion in the same period of 2021.
The firm’s earnings per share also fell from $2.10 to $1.88 in the given period.
IPHONE AND IMAC SALES DECREASED, IPAD SALES INCREASED
In this period, while Apple’s smartphone and computer sales decreased, tablet sales increased.
In the October-December period of last year, the amount of iPhone sales decreased by 8 percent compared to the same period of the previous year and decreased to 65.8 billion dollars. In the same period, Mac sales fell 29 percent to $7.7 billion, while iPad sales increased 30 percent to $9.4 billion.
On the other hand, Apple Chief Executive (CEO), Tim Cook, in an interview with CNBC, stated that the company’s financial results were affected by the strong dollar, the overall macroeconomic environment with the Kovid-19 restrictions in China affecting iPhone 14 Pro and iPhone 14 Pro Max production.
AMAZON SALES EXCEEDED EXPECTATIONS
American e-commerce giant Amazon’s sales exceeded market expectations in the last quarter of last year.
According to the statement made by the company, Amazon’s revenue in the 4th quarter of last year increased by 9 percent compared to the same period of the previous year and reached 149.2 billion dollars. The company’s sales in the last quarter of 2021 were recorded as 137.4 billion dollars.
The firm’s sales in the last quarter of last year exceeded market expectations of $145.4 billion. Amazon’s sales rose to $514 billion in 2022, an increase of 9 percent compared to the previous year. The company’s sales were calculated at $469.8 billion in 2021.
The net profit of the company was recorded as 300 million dollars in the said period. Amazon’s net profit in the fourth quarter of 2021 was $14.3 billion.
The e-commerce giant reported a loss of $2.7 billion in 2022. Amazon made a profit of $33.4 billion in 2021. The company’s earnings per share, which was $1.39 in the fourth quarter of 2021, also fell to 3 cents in the same period last year.
ALPHABET DID NOT MEET EXPECTATIONS
Google’s parent company Alphabet also increased its revenue in the last quarter of last year, while its profits fell.
According to the company statement, Alphabet’s revenue in the fourth quarter of last year increased by 1 percent compared to the same period of the previous year, reaching $ 76.1 billion. The company announced revenue of $ 75.3 billion in the October-December period of 2021.
Alphabet’s revenue fell short of market expectations of $76.5 billion despite the limited increase in the period in question. The company’s revenue reached $282.8 billion in 2022, an increase of 10 percent compared to the previous year. Alphabet’s revenue was estimated at $257.6 billion in 2021.
Alphabet’s net profit, on the other hand, fell 34% year-on-year to $13.6 billion in the last quarter of last year. The company had a net profit of $20.6 billion in the fourth quarter of 2021.
The company’s net profit in 2022 was $59.9 billion. The company reported a profit of $76 billion in 2021. Alphabet’s earnings per share, which was $1.53 in the fourth quarter of 2021, also fell to $1.05 in the same period last year.