Supply chain constraints are easing, says Tim Cook- 9to5Mac

Provide chain constraints are easing, says Tim Cook dinner- 9to5Mac

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Q1 2022 has been one in every of Apple’s greatest quarters in its historical past, based on The Wall Avenue Journal. Having reached $97 billion for the quarter, the corporate continues seeing double-digit development 12 months over 12 months because it first launched the iPhone 12 lineup with 5G. Previous to at the moment’s convention name, the Cupertino firm shared monetary particulars from the start of 2022.

Apple’s income for the January-through March interval rose 9% to $97.3 billion, far exceeding analyst expectations for $94 billion. Earnings per share rose to $1.52 from $1.40 a 12 months earlier—beating estimates for $1.42 a share and setting a file for Apple’s fiscal second quarter.

Easing provide chain troubles helped the corporate develop income this quarter. “The availability constraints have been considerably decrease than what we had skilled through the December quarter,” CEO Tim Cook dinner mentioned in an interview Thursday. The availability points aren’t over, sadly, as Cook dinner additionally talked about Apple anticipates a provide chain influence of $4-$8 billion in income for Q3.

Yr-over-year statistics beneath:

In most segments, the corporate managed to develop its year-over-year income. There’s nonetheless demand for iPad regardless of income being down, nevertheless. In Thursday’s interview, Cook dinner mentioned iPad’s outcomes have been hindered by “very vital provide constraints.” For months, iPads have been onerous to seek out on-line and in shops with transport taking almost two months. Very just lately, it’s change into simpler to acquire one.

Apart from provide chain points, there have additionally been exterior elements final quarter which have challenged Apple’s resilience. Whereas struggle has damaged out in Europe, Apple to halted its gross sales in Russia. The corporate has made clear that COVID has not affected the March quarter.

The iTunes and App Retailer additionally noticed notable development in Q1, growing 17% to $19.8 billion.

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