Top tech companies and revenue growth in 2022: GlobalData

The top 25 publicly traded global technology companies have achieved 5.2 percent growth in revenue, surging to $3 trillion in 2022, reveals GlobalData.
Top global tech firms and revenue in 2022Aapproximately two-thirds (60 percent) of the top 25 technology companies posted growth in revenue in fiscal 2022.

Amazon Web Services (AWS), Microsoft and Google Cloud reported over 25 percent growth in their cloud revenue in FY2022.

In the smartphone category, Apple reported a 7.8 percent growth, whereas Xiaomi reported a 18.2 percent decline in revenue in 2022.

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

Qualcomm reported a 31.7 percent growth in revenue 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 reported decline in revenue in 2022.

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

60 percent of the top 25 technology companies by revenue reported decline in their net profit. TSMC and Qualcomm were the only companies that reported 40 percent growth in their net profit in FY2022.

Amazon, Dell, Intel, HP, Oracle, Xiaomi and IBM reported more than 50 percent decline in net profit in 2022. Amazon posted a $2.7 billion loss in FY2022 compared to a profit of $33.3 billion in the previous year. Xiaomi reported an 87.7 percent decline in its net profit in 2022 due to a 35 percent drop in its global shipments.

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