Apple posts nearly $100 bn in profits for its fiscal year

Cupertino (California), Oct 29 (SocialNews.XYZ) Apple has posted a robust September quarter revenue at $83.4 billion, up 29 per cent from last year, despite larger-than-expected supply constraints, the company announced.

The company reported $366 billion of revenue for its fiscal year, which represents a 33 per cent annual growth, and a record 12-month profit nearing $100 billion.

For the September quarter (Q4) alone, the net income was $20.6 billion.

"This year we launched our most powerful products ever, from M1-powered Macs to an iPhone 13 lineup that is setting a new standard for performance and empowering our customers to create and connect in new ways," Apple CEO Tim Cook said late on Thursday.

"We are infusing our values into everything we make a" moving closer to our 2030 goal of being carbon neutral up and down our supply chain and across the lifecycle of our products, and ever advancing our mission to build a more equitable future," he added.

During the September quarter, Apple returned over $24 billion to its shareholders.

"Our record September quarter results capped off a remarkable fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories in spite of continued uncertainty in the macro environment," said Luca Maestri, Apple's CFO.

"The combination of our record sales performance, unmatched customer loyalty, and strength of our ecosystem drove our active installed base of devices to a new all-time high," he added in a statement

On the product side, revenue was $65.1 billion, up 30 per cent over a year ago as the company experienced better-than-expected demand for its products despite supply constraints.

"We grew in each of our product categories with an all-time record for Mac and September quarter records for iPhone, for iPad and for Wearables, Home and Accessories," Apple said.

Source: IANS