Apple Q1 2022 results: new record at $123.95 billion

Apple publish its financial results which relate to the first quarter of its fiscal year 2022, which corresponds to the fourth quarter of 2021 in our calendar. The manufacturer hits hard with a new record. The previous one dates back to last year.

Apple’s financial results for the first fiscal quarter of 2022

These results are important for a very simple reason: the last three months of the year are the busiest. Indeed, we find the sales of several products, including the iPhone 13 and the MacBook Pro with the M1 Pro and M1 Max chips. Plus, there’s the holiday season with Christmas right in the middle. Suffice to say that sales are numerous during this period.

The turnover is 123.95 billion dollars, against 111.44 billion dollars a year ago, an increase of 11%. Net profit was 34.63 billion dollars, against 28.76 billion dollars a year earlier, an increase of 20%. Earnings per share were $2.10, up 25%. For their part, analysts were expecting revenue of $118.66 billion and earnings per share of $1.89.

Here is the detail :

• iPhone: $71.63 billion in revenue (+9.19% compared to the same period a year ago)
• Mac: $10.85 billion (+35.62%)
• iPad: $7.25 billion in revenue (-14.1%)
• Apple Watch and other accessories: $14.70 billion (+13.34%)
• Services (iCloud, Apple Music, App Store, etc.): $19.52 billion (+23.86%)

Following the publication of the results, the action of Apple is up in post-session on the Stock Exchange to 164.06 dollars (+3.04%).

Reactions from Tim Cook (Apple boss) and Luca Maeestri (CFO)

“This quarter’s record results were made possible by our most innovative suite of products and services ever”, said Tim Cook. “We are thrilled to see the response from customers around the world at a time when staying connected has never been more important. We’re doing everything we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and furthering our work on education and racial equity and justice”, adds the boss of Apple.

“Extremely strong customer response to our recent launch of new products and services drove double-digit revenue and profit growth, and set an all-time high for our installed base of active devices”, said Luca Maestri, chief financial officer of Apple. “These record operating results enabled us to return nearly $27 billion to our shareholders during the quarter, as we maintain our goal of achieving a net cash neutral position over time.”.