As the year came to a close in 2022, the tech world was buzzing with stories of main gamers Apple and Google falling wanting their revenue and revenue expectations for the final quarter. Despite Apple being the largest company by way of market worth, the tech giant’s iPhone gross sales saw a big dip, primarily due to production disruptions in China attributable to strict Covid-19 policies.
Apple reported revenue of US$117.1bn, down 5.4% from the earlier yr, and a profit after tax of US$30 billion. Google, however, noticed a decline in promoting sales, causing the company’s profit to drop to US$13.6 billion.
Meanwhile, e-commerce big Amazon warned of uncertainty in the months ahead, reporting gross sales of US$149.2 billion in the fourth quarter however a drop in income from US$14.32 billion within the previous yr to near zero. The tech sector is facing several challenges, together with a slowing world financial system and rising inflation, which has led to corporations similar to Amazon and Google saying plans to put off thousands of employees, blaming over-hiring through the pandemic.
Despite these challenges, the companies remain optimistic about their prospects. Apple CEO Tim Cook assured analysts that the company is “managing for the lengthy term” and investing in innovation and folks.
Psycho indicated that Apple’s provide chain headaches had been behind them and that manufacturing is “back where they want it to be.”
Meanwhile, Amazon CEO Andy Jassy acknowledged that while the economic system could additionally be unsure within the short term, the corporate remains optimistic about long-term alternatives.
As for social media large Facebook, the corporate reported a 1% year-on-year drop in gross sales for the fourth quarter, however its day by day person depend hit a new milestone, reaching two billion for the first time..