They publish the balance sheets of Apple, Amazon and Alphabet

Apple, Amazon and Alphabet 2022 balance sheets were announced for the October-December period.

While revenue for US tech giants Apple and Alphabet, Google’s parent company, fell short of expectations in the October-December period last year, Amazon’s sales topped market expectations for the same period.

Shares of Google, Apple and Amazon also fell sharply, while technology stocks fell in after-hours trading following the release of the balance sheets.

APPLE’S REVENUE FELL

According to the Apple statement, the company’s sales, which considered the October-December period of last year as the first quarter in its balance sheet, decreased 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 failed to meet market expectations of $121.1 billion.

Apple’s net profit, on the other hand, decreased 13 percent in the October-December 2022 period compared to the same period a year earlier, falling to $30 billion. The company’s net income was recorded at $34.6 billion in the same period of 2021.

The company’s earnings per share also fell from $2.10 to $1.88 in the given period.

IPHONE AND IMAC SALES DECLINE, IPAD SALES RISE

In this period, while sales of Apple’s smartphones and computers declined, sales of tablets 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 rose 30 percent to $9.4 billion.

On the other hand, Apple’s Chief Executive Officer (CEO), Tim Cook, in an interview with CNBC, stated that the company’s financial results were affected by the strength of the dollar, the general macroeconomic environment, with the restrictions of Kovid- 19 in China affecting the iPhone 14 Pro and iPhone 14 Pro Max production.

AMAZON SALES EXCEEDED EXPECTATIONS

US e-commerce giant Amazon’s sales exceeded market expectations in the last quarter of last year.

According to the company statement, Amazon’s revenue in the fourth quarter of last year increased 9 percent compared to the same period of the previous year and reached 149.2 billion dollars. Company sales in the last quarter of 2021 were recorded at $137.4 billion.

The company’s sales in the last quarter of last year exceeded market expectations of $145.4 billion. Amazon sales rose to $514 billion in 2022, an increase of 9 percent compared to the previous year. Company sales were estimated at $469.8 billion in 2021.

The net profit of the company was registered in 300 million dollars in 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 Q4 2021, also it 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 1 percent compared to the same period of the previous year, reaching $76.1 billion. The firm announced revenue of $75.3 billion in the October-December 2021 period.

Alphabet’s revenue fell short of market expectations of $76.5 billion, despite limited growth during the period in question. The company’s revenue reached $282.8 billion in 2022, an increase of 10% compared to the previous year. Alphabet’s revenue was estimated at $257.6 billion in 2021.

Alphabet’s net profit fell to $13.6 billion in the final quarter of last year, down 34 percent from the same period a year earlier. 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 fell from $1.53 in the fourth quarter of 2021 to $1.05 in the same period last year. (AA)