Apple Reports Larger-Than-Expected $97.3B in Q2 2022 Results

Apple Reports Larger-Than-Expected $97.3B in Q2 2022 Results

Today, Apple has reported its financial results for the second fiscal quarter of 2022 which ended on March 26, 2022. The company (AAPL) has closed with a 4.5 percent up on the stock market with a larger-than-expected revenue jump.

Analysts had expected this quarter to be Apple’s biggest non-holiday quarter with $95 billion in revenue. Today, the Cupertino-based giant has revealed record-breaking earnings. The business industry expected a rise in revenue from iPhone, Wearables, Mac, as well as Services, with the iPad seeing a slight drop.

Apple reports on $97.3 billion increase in revenue, 9 percent more than what analysts were expecting from the company’s performance as well as quarterly earnings per diluted share of $1.52.

This quarter, Apple has switched from reporting unit sales to reporting by product category, here is the list:

  • iPhone: $50.57 billion (5.5% up)
  • Mac: $10.43 billion (14.3% up)
  • iPad: $7.65 billion (2.2% drop)
  • Wearables: $8.82 billion (12.2% up)
  • Services: $19.82 billion (17.2% up)

CEO of Apple Tim Cook stated today that the record results are a “testament to Apple’s relentless focus on innovation”:

“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. 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.”

Apple’s CFO Luca Maestri said that the company is “very pleased with the record business results for the March quarter”:

“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. 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.”

Yesterday, the company closed at $156.57, rising to 4.52 percent. Finally, AAPL stock has risen over 2% to $167 per share following the announcement. To see the entire numbers and revenue increase, Apple has published a document (PDF) detailing the full earnings.

Heedo Abu Laban
Author: Heedo Abu Laban

18 years old | News Editor and Writer at Appleosophy | former writer at Kernelnow.com | a big fan of tech + politics | Twitter: @HeedoAbuLaban

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