Apple, another record quarter: $ 97.3 billion in earnings in fiscal Q2 of 2022

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Apple announced its financial results for the second quarter of fiscal year 2022, which ended March 26, 2021. The company announced a record revenue for the March quarter of $ 97.3 billion, an increase of 9 % over the prior year, and quarterly diluted earnings per share of $ 1.52. Gross margin for the quarter was 43.7%, compared to 42.5% in the same quarter last year.

ALL-TIME RECORD FOR SERVICES

Apple set an all-time revenue record for services and March quarter revenue records for iPhone, Mac and wearables, home and accessories.

  • iPhone: $ 50.57 billion (up 5.5% year-on-year)
  • Mac: $ 10.43 billion (up 14.3% year-on-year)
  • iPad: $ 7.65 billion (down 2.2% yoy)
  • Wearables, Home and Accessories: $ 8.82 billion (up 12.2% year-on-year)
  • Services: $ 19.82 billion (+ 17.2% yoy)

These results come after the all-time record revenue achieved in the December quarter, which saw revenue reach $ 123.9 billion for the first time in its history, results achieved despite the difficulties caused by the continuing shortage of chips, lockdown in China and other supply chain problems that hindered Apple’s ability to meet demand during the quarter.

Apple’s board of directors declared a cash dividend of $ 0.23 per share of the Company’s common stock, representing a 5% increase. The dividend is payable on May 12, 2021 to shareholders who are registered as of the close of business on May 9, 2021. The Board of Directors has also authorized an increase of $ 90 billion for the current share repurchase program.

COMMENT FROM THE CEO AND CFO

This is the comment of Tim Cook, the CEO of Apple:

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 pleased to see the strong customer response to our new products, as well as the progress we are making towards becoming carbon neutral throughout our supply chain and our products by 2030. We are committed, as always, to being a force for the good in the world, both in what we create and in what we leave behind

This is the comment by Luca Maestri, Apple’s CFO:

We are very pleased with our record results for the March quarter as we set an all-time revenue record for services and the March quarter revenue record for iPhone, Mac and wearables, home and accessories. Continued strong customer demand for our products has helped us reach an all-time high for our installed base of active devices. Our strong operating performance generated over $ 28 billion in operating cash flow and allowed us to return nearly $ 27 billion to our shareholders during the quarter

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Abraham
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