Apple today unveiled the results of its first fiscal quarter of 2022 and reassured all fearful investors: its revenues broke all records, increasing by 11% year on year to 123.9 billion dollars. Net income was $34,630 million, half of what Microsoft paid for Activision Blizzard.
All of the company’s divisions exceeded investor expectations and grew, except for iPad, whose revenue fell from what was believed to be. In fact, year-over-year growth was negative 14%. The divisions that grew the most were Services (24% YoY) and Mac (25% YoY). This shows the good popularity of the M1 family of chips, which earned Macs more than $10,000 million for the first time in history.
Apple released a press release that includes a comment from Tim Cook regarding the numbers:
“We are grateful to see the response from consumers around the world at a time when being connected is more important than ever. education for equality and racial justice”
For shareholders, these results translate into a new dividend with which they will receive $0.22 per share on February 10. The company’s stock rose in value after markets closed, buoyed by record sales.
The broken down revenue shows that the iPhone is the mainstay of the business as always, but the services and accessories divisions also take a good slice of the pie. Europe and China are also gaining market share in Apple’s global sales, although the leader remains the Americas. Japan is the only market whose sales are declining.
I’ll break down the most important points that Tim Cook and Luca Maestri (Apple’s CFO) commented on during the press conference:
“No one could have predicted the impact of the iPhone. It has transformed the world into something we could never have imagined.” Tim Cook dedicates these words to the fifteenth anniversary of the presentation of the iPhone.
Picture | timbatec