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Apple beats Street on revenue and EPS

Thursday July 28, 2022. 10:31 PM , from Mac Daily News
Apple beats Street on revenue and EPS
Apple today announced financial results for its fiscal 2022 third quarter ended June 25, 2022. The Company posted a June quarter revenue record of $83.0 billion, up 2 percent year over year, and quarterly earnings per diluted share of $1.20.
Apple Park in Cupertino, California
“This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers,” said Tim Cook, Apple’s CEO, in a statement. “As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.”
“Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category,” said Luca Maestri, Apple’s CFO, in a statement. “During the quarter, we generated nearly $23 billion in operating cash flow, returned over $28 billion to our shareholders, and continued to invest in our long-term growth plans.”
Revenue breakdown:
• iPhone: $40.665B (vs. $39.570B YoY)
• Mac: $7.382B (vs. $8.235B YoY)
• iPad: $7.224B (vs. $7.368B YoY)
• Wearables, Home and Accessories: $8.084B (vs. $8.775B YoY)
• Services: $19.604B (vs. 17.486B YoY)
Apple’s board of directors has declared a cash dividend of $0.23 per share of the Company’s common stock. The dividend is payable on August 11, 2022 to shareholders of record as of the close of business on August 8, 2022.
Prior to Apple’s earnings report, Wall Street analysts’ consensus (FactSet) expected Apple to earn $1.16 per share on revenue of $82.8 billion for the quarter.
MacDailyNews Take: Solid!
MacDailyNews Note: Apple’s conference call to discuss third fiscal quarter results and business updates is scheduled for Thursday, July 28, 2022 at 2pm PDT / 5pm ET. We will cover it with live notes as usual here.
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