Business & Tech
Apple Reports Revenue And Profit Rise Despite Slowing Economy
Apple's fiscal fourth quarter revenue rose 8% from the same time last year to $90.1 billion.
October 28, 2022
Apple managed to boost both its sales and profit during a summertime quarter that depressed the fortunes of most other major tech companies but that doesn't necessarily mean the iPhone maker will be immune to a potential recession.
Find out what's happening in Cupertinofor free with the latest updates from Patch.
Even though Apple fared reasonably well, the July-September results released Thursday signaled that the world's most valuable company is facing some of the same economic headwinds that hammered the profits of Microsoft and the corporate parents of both Google and Facebook.
Apple's fiscal fourth quarter revenue rose 8% from the same time last year to $90.1 billion. That was an improvement from the scant 2% uptick in revenue during its April-June quarter when supply problems caused by pandemic-related factory shutdowns dinged its sales.
Find out what's happening in Cupertinofor free with the latest updates from Patch.
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