Despite Supply Difficulties, Apple made a Record-Breaking $123.9 Billion in Revenue.
Globally, the firm is in charge of almost 2 Billion Active Devices.
Apple has had a fantastic quarter. The corporation has released its earnings report for the first quarter of 2022 (which ended December 25, 2021 for Apple), and it shattered revenue records across the board. It also announced a $34.63 billion net profit, with gross margins improving to around 43.8 percent.
Not only did Apple's quarterly revenue reach an all-time high of $123.9 billion, but it also made more money than ever before selling iPhones, Macs, and wearables. Last year, the corporation reported revenue of $111 billion, which was a new high for the company at the time. It made a lot of money selling Macs last quarter, too, even though no new Macbooks were released.
Despite worldwide supply restrictions, Apple's iPhone revenue this year ($71.6 billion) is up significantly from last year ($65.6 billion). Mac revenues increased by more than $2 billion year over year, reaching a new high of $10.9 billion, thanks to the shift to its own M1 silicon chips. Chief financial officer Luca Maestri remarked on the company's earnings call that the last six quarters have been "the biggest six quarters ever for Mac," with M1-powered computers accounting for the vast bulk of sales due to a "record number of upgraders."
Apple Watch, AirPods, and HomePods brought in a record high of $14.7 billion in revenue from "Wearables, Home, and Accessories." Apple's services also contributed to the company's overall revenue, with goods like TV+ and Fitness+ bringing in $19.5 billion, up 24% from the previous year. Paid subscriptions are continuing to expand, according to Maestri, with recent advancements in Fitness+, Arcade, and Apple Music contributing to the trend.
This year, however, not all products set new records. iPad sales totaled $7.2 billion in the first quarter of 2021, down 14% year over year "because to extremely serious supply restrictions," according to Maestri.
Investors will be pleased to learn that Apple's board of directors has declared "a cash dividend of 22 cents per share of common stock, payable on February 10th 2022." Given the impact of supply chain problems and inflationary pressures on all firms, Apple's results this quarter are surprisingly strong. In the Q&A segment of the results call, CEO Tim Cook stated that the business will "have less restraints than we did in the December quarter," implying that the company's winning streak may not be finished.
On a GAAP basis, net income for the quarter was $34.63 billion, or $2.11 per share, up from $28.76 billion, or $1.70 per share, last year.
Apple will not provide revenue projections in the near future, According To Maestri, due to short-term concerns
However, provided the COVID-19 pandemic does not intensify, he predicted that Apple will post excellent sales growth in fiscal year 2022, with the current quarter projected to set new highs. However, considering the company's previous record-breaking growth rates, he expects revenue growth to be lower than it was in fiscal 2021.
