Apple Reports 2Q 2022 Results: $25.0B Profit on $97.3B Revenue, Best March Quarter Ever

[MacRumors]

Apple today announced financial results for its second fiscal quarter of 2022, which corresponds to the first calendar quarter of the year.

For the quarter, Apple posted revenue of $97.3 billion and net quarterly profit of $25.0 billion, or $1.52 per diluted share, compared to revenue of $89.6 billion and net quarterly profit of $23.6 billion, or $1.40 per diluted share, in the year-ago quarter.

As expected, Apple's revenue and earnings set all-time records for the March quarter.

Gross margin for the quarter was 43.7 percent, compared to 42.5 percent in the year-ago quarter. Apple also declared an increased dividend payment of $0.23 per share, up from $0.22 per share. The dividend is payable May 12 to shareholders of record as of May 9.

Apple has also authorized an increase of $90 billion for its stock buyback program.

“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.”

As has been the case for two years now, Apple is once again not issuing guidance for the current quarter ending in June.

Apple will provide live streaming of its fiscal Q2 2022 financial results conference call at 2:00 p.m. Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Conference call recap ahead...
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Article Link: Apple Reports 2Q 2022 Results: $25.0B Profit on $97.3B Revenue, Best March Quarter Ever

 

[Justin Cymbal]

I bought a lot of Apple stock in my IRA a few years ago and continue buying more on the dips

I’m definitely planning to keep adding more shares and am holding it as a long-term investment

This year has definitely started off well for Apple and I’m looking forward to WWDC in June as well as the new AirPods Pro, iPhone 14 and the redesigned MacBook Air in the fall

Keep up the awesome innovation Apple and continue to come out with amazing tech that improves people’s lives throughout the world!

 

[minik]

Apple doesn't miss. We'll see what's the outlook be like.

 

[vegetassj4]

It's all about the bucks kid. The rest is conversation.

 

[tonywalker23]

An iPod that looks like an original first-gen iPod from 2001 with an ssd instead of a hd and bluetooth to work with AirPods would help increase the iPod revenue category.

 

[I7guy]

Even Wearables have the GDP of a small country.

 

[DocMultimedia]

Really wish they'd spend a few of there spare pennies on a bigger dividend. This was the smallest increase they've done since they restarted them back in 2012ish. Oh well. Keep the price going up with buybacks and I'll be ok.

 

[5232152]

The fact they can keep growing (impressivly) boggles my mind. Especially when I cannot mention a single revolutionary innovation for a long long time

 

[Rogifan]

25B in profit in one quarter. And it’s no longer mind blowing to anyone. Well it’s still mind blowing to me.

 

[coolfactor]

The fact they can keep growing (impressivly) boggles my mind. Especially when I cannot mention a single revolutionary innovation for a long long time

I initially Liked your post, but then reversed that. I think your bar for "revolutionary innovation" is set too high. ?

M1 was a HUGE revolutionary innovation! It may be a continuation of the A-series work that they've excelled at, but that move revolutionized the Mac overnight!

 

[Pangalactic]

The fact they can keep growing (impressivly) boggles my mind. Especially when I cannot mention a single revolutionary innovation for a long long time

Apple Watch that made smart watches mainstream for the first time?
Airpods that shifted the whole headphones industry to wireless?
ARM Macs with ridiculous performance and battery life?

I feel people are vastly underestimating how many things were achieved under Tim Cook

 

[Whathappened]

Not bad for a clearly doomed company.

 

[erikkfi]

This really still is The House that Steve Built, isn't it? Look at the chart when he died - not one new category since then. Of course, "wearables" and "services" are pretty broad, but still.

 

[sorgo †]

Bloomin’ Apple 🌸🍏

 

[DeepIn2U]

So sales of the iPhone 13 mini would’ve been included in this quarter to then. Last quarter report stated regular iPhone’s outsold the pro’s.

 

[djcerla]

“iPhone company” my ass. Look at those Macs.

 

[DeepIn2U]

Even Wearables have the GDP of a small country.

Right?!

Services almost accounts for 25% of quarterly revenue, QUARTERLY.

I expect wearables to increase to 14% next quarter as well. And Apple is not advertising as much as they should on wearables.

 

[Random_Matt]

Mac overtook the iPad, nice.

 

[jeffkoontz]

Could have gone to .24 on the dividend tbh. Will see what the buyback delivers.

 

[daanodinot]

It’s kind of interesting to me that the iPad peaked ~10 years ago, even though Apple’s install base keeps growing.

 

[eilavid]

- great to see macs sales increasing
- services revenue is insane
- wearables/airpods being at 9% of total sales seems kinda low to me
- apple increasing R&D spending by another $1 billion is interesting

 

[lkrupp]

The fact they can keep growing (impressivly) boggles my mind. Especially when I cannot mention a single revolutionary innovation for a long long time

Your problem is you take in all the negative b.s. that goes on in tech blog forums and forget about the real world market where people love to buy and use Apple’s products. You wouldn’t know that from what is said in forums where Apple is hated, despised, constantly lambasted and denigrated by disgruntled know-it-alls.

 

[Bonte]

Funny that the Mac is now a growth opportunity for Apple. The M1 is a revolution, not just for the Mac but for every single future product from cars to VR and anything in between.

 

[DeepIn2U]

Search BS on the call about the iPhone SE family helping out the 13th sales.

Aha!

IPhone SE 3 is not an iPhone 13 model or family. But lol.

EDIT:
Q: You talked about iPhone SE demand, can you compare what you're seeing in momentum to previous iPhone SE cycles. What are you seeing in demand by geography?

A: We don't get to that level of granularity because we view it to be sensitive data that competitors would love to have, I'll punt on answering that question. When you zoom out and look at iPhone as a total, we could not be happier with the iPhone 13 family of products and the strength we've seen for this cycle. Those products have powered the line and given us the results we've had on iPhone. Revenue of $120 billion for first half of the fiscal year. Feel good about those results.

 

[SactoGuy18]

I think what helps Apple is that they don't have to deal with a fragmented market that Google has to contend with under Android. As such, iPhones only a few years in age still sell in large numbers in "Renewed" condition.