Apple announced its results for the second fiscal quarter of 2022, which included the calendar first quarter of the year as well as the months of January, February, and March.
Apple announced $97.3 billion in sales for the quarter, a 9% rise year over year. The corporation had a profit of $25 billion and earned $1.52 per share.
Follow the link below for complete coverage of AAPL’s fiscal Q2 2022 earnings announcement.
The AAPL earnings report for the second quarter of 2022
Analysts had high hopes for Q2 2022 after an exceptionally great, record-breaking holiday quarter in Q1 2022. Apple was expected to report sales of $95.51 billion, up from $89.58 billion last year, and earnings per share of $1.53.
Wall Street forecasted increases for the iPhone, Mac, Wearables, and Services divisions, but a tiny decline in iPad sales.
Apple has once again refrained from providing any forecast for the quarter, citing supply-side interruptions as the reason. Apple’s COVID-19 interruptions and supply shortages continue to have an effect on Apple’s revenue and ability to forecast future statistics.
Apple no longer publishes unit sales for any of its products, instead providing a revenue breakdown by product category. Here is the complete breakdown for fiscal Q2 2022:
- $50.57 billion for the iPhone (a 5.5 percent increase year on year).
- Macintosh: $10.43 billion (a 14.3 percent increase year on year).
- $7.65 billion for the iPad (a 2.2 percent decrease year on year).
- Wearables accounted for $8.82 billion (a 12.2 percent increase year on year).
- 17.2 percent year on year).
Apple also announced a cash dividend of $0.23 per share of ordinary stock, a 5% increase. The board of directors has also approved a $90 billion increase in the current share buyback program.
AAPL stock movement
As a result of Apple’s earnings beat, AAPL stock is up more than 2% to $167 a share. The stock closed yesterday at $156.57 and was up 4.52 percent in pre-earnings trading today.
Apple executive quotes
Here’s what Apple CEO Tim Cook had to say about Apple’s Q2 2022 earnings results:
This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” said Tim Cook, Apple’s CEO. “We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind.
And CFO Luca Maestri added:
We are very pleased with our record business results for the March quarter, as we set an all-time revenue record for Services and March quarter revenue records for iPhone, Mac, and Wearables, Home and Accessories. Continued strong customer demand for our products helped us achieve an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “Our strong operating performance generated over $28 billion in operating cash flow, and allowed us to return nearly $27 billion to our shareholders during the quarter.