Feast During COVID: Apple Sets Historic Profit Record

iPhone 13

Apple traditionally announced the results for first fiscal quarter 2022 – it is considered the most important, because it is in it that it becomes clear how new iPhone models were sold, how many goods Apple purchased for the New Year holidays, and also how much the shortage of devices affected. And, it seems, no way: the company has again updated its own revenue records. We understand how much the company has earned and how iPhone sales have grown.

How much Apple earns

In total for the past quarter, the company received revenue $123.94 billion, which is 11% more than the previous figures. This turned out to be higher than analysts’ expectations, experts expected much less – about $119 billion. Net profit amounted to $34.6 billionwhich is 20 percent higher than previous results.

It is noted that revenue for products and services grew in all segments except for the iPad – the company had previously warned that there could be problems with supplies. But, as you can see, nothing prevented breaking a new record.

iPhone sales statistics

The company has revealed how much it has earned from its iPhones, iPads and other products.

  • iPhone — $71.6 billion (+9%);
  • Mac — $10.9 billion (+25%);
  • iPad — $7.2 billion (-14%);
  • Wearable devices — $14.7 billion (+13%);

Apple continues to actively earn on its services, and not just on devices. iCloud, Apple Music and App Store fees are still the most profitable division, exceeding all expectations. Profit amounted to 19.52 billion dollars against 18.61 billion a year earlier.

Tim Cook was laconic in assessing the current successes:

According to preliminary data, the company in the fourth quarter of 2021 became the leader in sales worldwide and overtook Samsung. In addition, the company also became the market leader in China, which it has not been able to do for 6 years. Global sales increased in all regions except Japan, which fell 14% to $7.1 billion.

Apple financial report

The company again refused to give forecasts for the current quarter, a policy Apple has adhered to since the beginning of the pandemic. Tim Cook noted that the situation with the supply of chips should improve in the coming quarters. Let me remind you that against the backdrop of a shortage of components, the Cupertino company could not produce enough iPads and gave priority to the release of other devices. In addition, it is interesting that Mac sales have grown – buyers appreciated Apple’s own chip. That is why computers showed the strongest growth among all Apple technology.

What surprised me the most was the rise in iPhone sales. In fact, the company has not updated the smartphone radically. Perhaps one factor was the increase in storage capacity. Or not? Let’s discuss in our Telegram chat.

Apple stock price

The company’s securities are gradually rising in price after a recent fall amid the geopolitical crisis. At the moment the price is $167.68 for one piece, and experts note that in the near future the figures may return to 176 dollars. At the end of the reporting period, distributed earnings per share increased by 25% compared to the same period last year.

The full details of the financial report can be found here.

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