Another earnings call, another set of records smashed. Apple’s quarterly reports are like a broken record these days, as the company’s sales figures continue to impress.
It’s no surprise, really, that Apple is posting another record quarter – but there are a few interesting stats to look at, so let’s dive in.
Apple is reporting second-quarter revenue of a whopping $97.3 billion this year, 9% higher than the equivalent quarter in 2021. $25 billion of that ended up as profit, which is another all-time record for a March quarter.
The products that make up those sales are continuing to shift slightly – while iPhone remains by far Apple’s biggest earner, with plenty of recent growth from Android switchers, its Services business (TV+, Music, iCloud, etc) showed the highest growth, up 17% over last year.
And while iPad sales stayed relatively flat, this was the seventh quarter in a row that Mac sales have broken records, showing that consumers have really taken to Apple’s impressive M1 chip, introduced… oh, around seven quarters ago.
“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.”
So, good news for Apple fans and shareholders, then – especially as Apple’s directors announced that cash dividends per share would increase by 5%.