Top 25 Global Tech Companies Post Resilient Yoy Revenue Growth Of 5.2% In 2022


(MENAFN- ValueWalk) In a challenging economic climate, the top 25 publicly traded global tech companies displayed remarkable resilience by achieving an impressive 5.2% year-on-year (YoY) revenue growth, surging to an astounding $3 trillion in 2022.

Despite facing significant challenges such as geopolitical risks and supply chain disruptions, these companies performed remarkably well, reveals GlobalData, a leading data and analytics company.

Top 25 Tech Companies Post YoY Growth

An analysis of GlobalData's Company Reports Database reveals that approximately two-thirds (60%) of the top 25 tech companies posted growth in YoY revenue in fiscal 2022.

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Ragupathy Jayaraman, Business Fundamentals Analyst at GlobalData, comments:
“Amazon Web Services
(AWS),
microsoft
and Google Cloud reported over 25% YoY growth in their cloud revenue in FY2022. In the smartphone category, Apple
reported a 7.8% YoY growth, whereas Xiaomi reported a 18.2% decline in revenue in 2022. Xiaomi's sales declined due a reduction in global shipments.”

Microsoft, Sony, Taiwan Semiconductor Manufacturing (TSMC), Panasonic, Accenture and Qualcomm reported more than 10% YoY growth in their revenue in 2022. TSMC's revenue increased 33.7% YoY, driven by increased shipments in its high-performance computing and smartphone businesses.

Qualcomm reported a 31.7% YoY growth in revenue primarily due to increased revenue from handsets, automotive and IoT products and higher estimated revenues per unit. Samsung, Meta, Tencent, Lenovo, Intel, HP, Pegatron, Xiaomi and Compal Electronics were the only companies in the top 25 that reported YoY decline in revenue in 2022.

In terms of operating profit, Microsoft, TSMC, Accenture, Pegatron and Qualcomm reported more than 15% YoY growth in 2022, with TSMC and Qualcomm recording more than 60% growth.

Jayaraman concludes:“In terms of profitability, 60% of the top 25 tech companies by revenue reported YoY decline in their net profit. TSMC and Qualcomm were the only companies that reported 40% YoY growth in their net profit in FY2022.

“Amazon, Dell,
Intel, HP, Oracle, Xiaomi
and
ibm reported more than 50% YoY decline in net profit in 2022. Amazon posted a $2.7 billion loss in FY2022 compared to a net profit of $33.3 billion in the previous year. The company attributes a major portion of the loss to its investment in the electric vehicle startup Rivian. Xiaomi reported an 87.7% decline in its net profit in 2022 due to a 35% drop in its global shipments.”

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