Published , by TJ Denzer
Published , by TJ Denzer
Apple has posted its Q4 2023 earnings results and its full-year results for the 2023 fiscal year. There were a lot of interesting stats to come out of the company’s results, but one eye-opening (or perhaps eye-watering) stat about common stock buybacks stood out heavily on the balance sheet. Apple bought back $77.55 billion USD worth of common stock over the course of its fiscal 2023.
Apple posted about its full-year fiscal financing expenses in its Q4 2023 earnings results, which included details about its expenses in investments and financing. There, under Financing Activities, it is shared that Apple spent $77.55 billion USD on “Repurchases of common stock” throughout its fiscal 2023. While this was down from the $89.40 billion spent on stock repurchases throughout Apple’s 2022 fiscal year, it’s also worth noting that Apple’s Net Income was $96.99 billion overall.
Apple’s investment in stock repurchases comes in a quarter and full-year report where the company had slower growth than usual. The company still put up revenue and earnings-per-share beats against expectations on Q4 2023. However, iPhone sales on the quarter where it had just released the new iPhone 15 were only up 2.78 percent from Q4 2022 to Q4 2023. Moreover, iPhone sales for the entire fiscal 2023 were actually down a bit from 2022.
Apple is still one of the most profitable companies in the world, so it’s not nearly in any kind of danger. However, with the company’s growth seemingly slowing and continued spending on common stock buybacks, it will be interesting to see where Apple goes from here in its fiscal 2024. Stay tuned for more coverage on Apple and other tech companies reporting earnings results, right here at Shacknews.