HomeTech GiantsAppleApple resists the crisis: growing revenues thanks to iPhones and services

Apple resists the crisis: growing revenues thanks to iPhones and services

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apple disclosed the financial results of the its third quarter of fiscal 2022 finished last June 25: the overall opinion is positive and in contrast to that of other important tech giants that these days are dealing with their quarterly (see for example Meta). The Cupertino house managed to achieve results higher than analysts’ estimates with revenues of $ 83 billion, up 2% year-on-year it’s a net profit of $ 19.4 billion.

IPHONE AND SERVICES ON. MAC DOWN

Record revenue for the quarter ending June defined them as Apple, even though the growth is two percentage points. But this is not a foregone conclusion given the current macroeconomic context. Driving revenues is once again the flagship product of the company led by Tim Cooknamely the iPhone, along with the revenue generated by the services. Apple has managed to withstand the crisis – or rather the crises (health, economic, geopolitical, chip) – which inevitably have left more than a trace on the balance sheet. More specifically, these are the revenues attributable to the main product categories:

  • iPhone: $ 40.66 billion ($ 39.57 billion in Q3 2021)
  • Mac: $ 7.38 billion ($ 8.23 ​​billion in Q3 2021)
  • iPad: $ 7.22 billion ($ 7.36 billion in Q3 2021)
  • Wearables, Home and Accessories: $ 8.08 billion ($ 8.77 billion in Q3 2021)
  • Services: $ 19.60 billion ($ 17.48 billion in Q3 2021)
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As iPhone and Services continue to grow, revenues from Mac, iPad and devices in the Wearables, Home and Accessories categories record a more or less marked decline on an annual basis. The most relevant one (-10%) concerns Macs and is determined by a mix of factors: problems with supplies and more generally the trend of the PC market in decline.

Revenues generated by the sale of Macs are falling, problems with supplies and the trend of the PC market weigh

As for the devices, Luca Maestri, Apple’s CFO, however, pointed out that the installed base of active devices has reached an all-time high in every geographic area and product category. It is always Maestri who emphasizes the importance of the result achieved, taking into account the current difficulties of the market: Our June quarter results continued to demonstrate our ability to run the business effectively despite the challenging operating environment.

THE COMMENT OF TIM COOK

CEO TIm Cook commented:

Record results this quarter speak of Apple’s continued efforts to innovate, promote new possibilities and enrich the lives of our customers. As always, we are at the forefront of our values, and we express them in everything we do, from new features designed to protect user privacy and security, to tools that will improve accessibility, part of our long-standing commitment. to create products for everyone.

Of course, not even Cook can deny that the current economic situation affects Apple’s activities and – in an interview with New York Times after the disclosure of financial results – he admitted that the company is proceeding cautiously with regard to new hires – they are not blocked and there is not even talk of layoffs, but of thoughtful choices to decide where to invest resources.

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