Despite headwinds, Apple sails to another record-breaking quarter

Despite headwinds, Apple sails to another record-breaking quarter

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Another blockbuster quarter for Cupertino: Apple reports recording earnings for Q2 2022.
Can anything slow Apple down?
Image: Trac Vu/Unsplash License and Cult of Mac

Apple brought in $97.3 billion in revenue during the January-to-March period. That’s a new record for March-quarter revenue. And it’s an increase of 9% over the same period of 2021.

The company also set March-quarter records for iPhone, Mac, wearables and more.

Record Apple revenue in Q1 2022

“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.”

Seeing Apple do well should please anyone who depends on a Mac or iPad every day, even if they don’t own AAPL shares. It’s a sign that the company will be around to continue producing high-quality products.

The $97.3 billion in revenue is up from $89.6 billion in revenue in the first three months of 2021. And it easily beat Wall Street’s expectations. The analyst average prediction for Q1 revenue before the announcement was $93.9 billion.

Apple revenue in its Q2 financial quarter
The January-through-March quarter is Q2 on Apple’s financial quarter
Chart: Ed Hardy/Cult of Mac

Apple keeps breaking records

“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,” said Luca Maestri, Apple’s CFO. “Continued strong customer demand for our products helped us achieve an all-time high for our installed base of active devices.”

On one level, this isn’t surprising. iPhone continues to be very popular and the 6.1-inch iPhone is Apple’s best-selling model. But the company faces challenges from global problems, like the ongoing chip shortage, COVID-19 lockdowns at assembly plants and inflation.

Apple’s board of directors declared a cash dividend of $0.23 per share of common stock. This is payable on May 12, 2022 to shareholders of record as of the close of business on May 9, 2022.

Investors clearly anticipated a positive financial report from the Mac-maker, as the price for AAPL shares went up 4.52% on Thursday. They are continuing to climb in after-hours trading.

Source: Apple