Apple Posts $25B Profit on $97.3B Revenue for Q1 2022; Registers Record High Revenues

BY Chandraveer Mathur

Published 28 Apr 2022

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Apple announced its earnings for the second fiscal quarter of 2022, aligning with the year’s first calendar quarter. It posted a revenue of $97.3 billion, up from $89.6 billion in revenue during Q2 2021.

The company raked in a net quarterly profit of $25 billion, which was also more than Q2 2021 $23.6 billion net profit. The company’s board of directors pegged the quarterly earnings per diluted share at $1.52. The company’s gross margin stood at 42.5 percent for this quarter, compared to 42.5 percent from the year-ago quarter.

Apple CEO Tim Cook remarked that this quarter’s earnings 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.”

Q2 2022 was another record-setting quarter for the iPhone maker. Its Services division set a record this quarter, and revenue records were set by the iPhone, Mac, Wearables, and Home and Accessories divisions. Cook highlighted that the Services revenue grew to $19.8 billion, a 17 percent rise from last year. CFO Luca Maestri added that Apple grew in every category except the iPad, which is battling severe supply chain constraints.

Apple Q2 2022 revenue by category

Breaking down the Q2 2022 report, each category contributed the following amount to the posted $97.3 billion revenue:

  • iPhone: $50.6 billion
  • Mac: $10.4 billion
  • iPad: $7.6 billion
  • Wearables, Home, and Accessories: $8.8 billion
  • Services: $19.8 billion

That said, Apple has decided against issuing guidance for its current quarter ending in June 2022. Notably, company executives acknowledged the humanitarian crisis in Ukraine during the call.

[Via Apple Newsroom]