Apple beats estimates with record Q2 earnings: $97.3 billion revenue

Apple beats estimates with file Q2 earnings: $97.3 billion income

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Apple right this moment formally reported its earnings for the second fiscal quarter of 2022, masking the calendar first quarter of the 12 months and the months of January, February, and March.

For the quarter, Apple reported income of $97.3 billion, a rise of 9% year-over-year. The corporate reported a revenue of $25 billion and earnings-per-share of $1.52.

Head under for full protection of AAPL’s fiscal Q2 2022 earnings launch…

AAPL Q2 2022 earnings particulars

Coming off an extremely robust, record-breaking vacation quarter in Q1 2022, analysts once more had excessive expectations for Q2 2022. Analysts anticipated Apple to report complete income of $95.51B, in opposition to $89.58B for a similar quarter final 12 months and EPS of $1.53.

Wall Road additionally predicted development for the iPhone, Mac, Wearables, and Companies companies, whereas they predicted a slight drop in iPad income.

Apple itself as soon as extra avoided providing any steerage for the quarter, once more citing considerations over supply-side disruptions. Ongoing COVID-19 disruptions and provide shortages proceed to influence Apple’s income and its potential to foretell future numbers.

Apple not experiences unit gross sales for any of its merchandise however as an alternative experiences a breakdown of income by product class. Right here is the total breakdown for the fiscal Q2 2022:

  • iPhone: $50.57 billion (Up 5.5% YOY)
  • Mac: $10.43 billion (Up 14.3% YOY)
  • iPad: $7.65 billion (Down 2.2% YOY)
  • Wearables: $8.82 billion (Up 12.2% YOY)
  • Companies: $19.82 billion (Up 17.2% YOY)

Apple has additionally declared a money dividend of $0.23 per share of its frequent inventory, a rise of 5 p.c. The board of administrators has additionally licensed a rise of $90 billion to the present share repurchase program.

AAPL inventory response

In gentle of Apple’s earnings beat, AAPL inventory is up over 2% to $167 per share. The corporate closed at $156.57 yesterday and rose 4.52% throughout buying and selling right this moment, earlier than releasing earnings.

Apple govt quotes

Right here’s what Apple CEO Tim Cook dinner needed to say about Apple’s Q2 2022 earnings outcomes: 

“This quarter’s file outcomes are a testomony to Apple’s relentless give attention to innovation and our potential to create the most effective services on the earth,” stated Tim Cook dinner, Apple’s CEO. “We’re delighted to see the robust buyer response to our new merchandise, in addition to the progress we’re making to grow to be carbon impartial throughout our provide chain and our merchandise by 2030. We’re dedicated, as ever, to being a drive for good on the earth — each in what we create and what we depart behind.”

And CFO Luca Maestri added:

“We’re very happy with our file enterprise outcomes for the March quarter, as we set an all-time income file for Companies and March quarter income data for iPhone, Mac, and Wearables, Residence and Equipment. Continued robust buyer demand for our merchandise helped us obtain an all-time excessive for our put in base of energetic gadgets,” stated Luca Maestri, Apple’s CFO. “Our robust working efficiency generated over $28 billion in working money move, and allowed us to return almost $27 billion to our shareholders through the quarter.”

You possibly can learn Apple’s full earnings launch on this submit on Apple Newsroom. Keep tuned to 9to5Mac for extra protection from the AAPL earnings name with Tim Cook dinner and Luca Maestri subsequent. You possibly can hear stay to the AAPL Q2 2022 earnings name audio streaming at the highest of the hour right here or hear again shortly after the decision with Apple Podcasts.

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