The move comes as the company contends with costs tied to supply chain issues and labor shortages. Fourth-quarter sales and profits were still strong.
is reporting strong fourth-quarter sales and profits even as it continues to contend with surging costs tied to a snarled supply chain and labor shortages.
The company reported a profit of $14.32 billion, or $27.75 per share, for the three-month period that ended Dec. 31. That compared with a profit of $7.22 billion, or $14.09 per share, during the year-ago period. Revenue rose 9% to $137.41 billion, the company’s fifth consecutive quarter of revenue topping $100 billion.
The company said that sales are expected to be between $112 billion and $117 billion for the current fiscal quarter. Analysts were expecting $120.93 billion, according to FactSet estimates.
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