Giant American technology company Apple managed to overcome a year-long decline in sales by announcing a net profit of almost $34 billion in the fourth quarter of last year.
According to Reuters, this positive result is largely due to strong iPhone sales, which increased 6% to $69.7 billion in that period.
Apple's total revenue rose 2% to $119.6 billion, marking the first increase after four consecutive quarters of decline.
Apple's resilience amid challenges
However, the company's sales in regions of China, which include Apple's businesses in Taiwan and Hong Kong, saw revenue decline by about 13%. Although iPhone sales exceeded analysts' expectations, the company lagged in services and Mac devices in addition to the iPad divisions, according to observers, causing the stock price to fall 1.6% during after-hours trading. The company's total profit increased by 13% to $33.9 billion.
Apple's CEO confirmed that revenue growth was achieved during the last quarter, attributing this to iPhone sales.
Cook highlighted record revenues in the services sector, but concerns remain about Apple's ability to regain momentum, especially after Microsoft recently overtook it as the most valuable publicly traded US company. After leaving.
Despite the overall positive results, Apple faces challenges in its Services division, which is under legal investigation. Experts say the company's revenue could be hit by repeated antitrust lawsuits, including a call related to its search engine deal with Google, which prompted the company to review its commission system in the App Store.
Meta exceeds expectations
Meanwhile, Facebook and Instagram's parent company Meta reported a profit of $14 billion in the fourth quarter of 2023, more than analysts expected. Driven by approximately 3.1 billion monthly users on its social network, with its revenue reaching $40.1 billion, the company's shares rose more than 12% in trading in the financial markets.
This positive financial performance coincides with the 20th anniversary of Facebook's founding, and Meta CEO Mark Zuckerberg has expressed optimism about the future. However, according to Bloomberg the company faces online security challenges, which were highlighted during a Senate Judiciary Committee hearing on the “online child sexual exploitation crisis.” Zuckerberg apologized at the time for the experiences of victims' families and emphasized the evolving nature of online security measures.
Strong results for Amazon in 2023
Online shopping giant Amazon also showed strong financial performance in the last financial quarter, including the Christmas period. The e-commerce giant announced a 14% increase in year-over-year revenue, reaching $170 billion. Its profit in the period was about $10.62 billion, driven by strong retail and cloud performance.
Amazon's cloud services division saw a 13% increase in sales, reaching $24.2 billion.
The company's CEO, Andy Jassy, highlighted the record holiday shopping season and strong finish to 2023, offering an optimistic forecast for the first quarter of 2024, with sales expected between $138 billion and $143.5 billion.
These financial reports demonstrate the resilience of major American companies and their ability to adapt in a dynamic and competitive market environment.