Apple reports all-time quarterly record revenue; handily beats Wall Street expectations

Apple today announced financial results for its fiscal 2022 first quarter ended December 25, 2021. The company posted an all-time revenue record of $123.9 billion, up 11 percent year over year, and quarterly earnings per diluted share of $2.10, both of which handily beat Wall Street expecatations.

“The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO, in a statement. “These record operating results allowed us to return nearly $27 billion to our shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”
Revenue breakdown:
• iPhone revenue: $71.628 billion
• Services revenue: $19.516 billion
• Wearables, Home and Accessories revenue: $14.701 billion
• Mac revenue: $10.852 billion
• iPad revenue: $7.248 billion
“This quarter’s record results were made possible by our most innovative lineup of products and services ever,” said Tim Cook, Apple’s CEO, in a statement. “We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”
Apple’s board of directors has declared a cash dividend of $0.22 per share of the Company’s common stock. The dividend is payable on February 10, 2022 to shareholders of record as of the close of business on February 7, 2022.
Apple will provide live streaming of its Q1 2022 financial results conference call beginning at 2:00 p.m. PT on January 27, 2022 at apple.com/investor/earnings-call. This webcast will also be available for replay for approximately two weeks thereafter.
MacDailyNews Take: Apple beat every expectation, except for iPad – about which they warned during last quarter’s conference call that the company would prioritize Apple Silicon chips for iPhone over iPad due to the supply chain crunch caused by the response to COVID-19.
For some perspective, General Motors is No.49 on the Fortune 500 with annual revenue of $122.485 billion. Apple just surpassed that, reporting revenue of $123.945 billion in a span of 90-odd days.
Prior to the report, the analysts’ consensus expected:
• Revenue: $118.66 billion
• EPS: $1.89
• iPhone revenue: $67.6 billion
• Services revenue: $18.7 billion
• Wearables, Home and Accessories revenue: $14.4 billion
• Mac revenue: $9.9 billion
• iPad revenue: $8.2 billion
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
Shop The Apple Store at Amazon.

The post Apple reports all-time quarterly record revenue; handily beats Wall Street expectations appeared first on MacDailyNews.