Apple reports $97.3 billion in revenue in Q2 2022, a 9% increase year over year
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- personNabin Pradhan
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Apple has announced its financial report for its fiscal 2022 second quarter ended March 26, 2022 (aka calendar Q1 2022). The Cupertino-based tech giants reported revenue of $97.3 billion and a quarterly profit of $25 billion, or $1.52 per diluted share. Apple’s revenue was up 9% year over year in the quarter.
“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,” said Tim Cook, Apple’s CEO. “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.”
>>> The global smartphone shipment fell 11% in Q1 2022 | Samsung led the market
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Apart from iPads, all the key product categories like iPhones, Macs, Wearables, and Services segments grew YoY. Ongoing supply shortages continue to impact Apple’s revenue. The full breakdown of the fiscal Q1 2022 for Apple looks like this;
- iPhone: $50.57 billion (Up 5.5% YOY)
- Mac: $10.43 billion (Up 14.3% YOY)
- iPad: $7.65 billion (Down 2.2% YOY)
- Wearables: $8.82 billion (Up 12.2% YOY)
- Services: $19.82 billion (Up 17.2% YOY)
Apple generated over $28 billion in operating cash flow, which allowed them to return nearly $27 billion to its shareholders. The company has declared a quarterly dividend payment of $0.23 per share, payable on February 10, 2022, an increase of 5 percent. The board of directors has also authorized an increase of $90 billion to the existing share repurchase program.
>>> Global premium smartphone market grew 24% in 2021 | Apple was the leading OEM in the segment
