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

[CarlJ]

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

But but but, iPhones are still rectangular!!1!

 

[citysnaps]

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

And services at 9.1%. Almost as much as Macs. Smart move by Cook long ago realizing Macs would be topping out.

People greatly underestimate Cook's role in Apple's success. Sadly, it has a lot to do with some people resenting his success simply because of who he is.

 

[Think|Different]

They still got it!

 

[shamus99]

Tim called the SE the phone for people who want affordable and smaller phones (something like that)…. Im afraid my mini is doomed.

 

[DeepIn2U]

Q&A$90 billion for share repurchases, raising the dividend by 5% to $0.23/share. Annual increases in dividends are planned going forward

Supply-side does affect consumers side in your business Apple it’s the same thing

 

[AltecX]

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

I knew a lot of people that had a smart watch before the apple watch was out, and I knew a lot of people with wireless earbuds before the Air pods were out.

None of that apple did on those were first or revolutionary, they just did their usual thing of making it function better than the versions in place at the time and putting it in a premium style/form factor.

 

[MickeyAlexander]

Annndd the stock’s down 4% after-hours regardless...we should know better by now! 😅

 

[jwolf6589]

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.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 starts at 2:00 p.m. Pacific - No need to refresh

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Visit article to see live updates



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

Wow iPhones sold well! I wonder how well the AppleTV sold. I bought a new one the other week.

 

[iDento]

I knew a lot of people that had a smart watch before the apple watch was out, and I knew a lot of people with wireless earbuds before the Air pods were out.

None of that apple did on those were first or revolutionary, they just did their usual thing of making it function better than the versions in place at the time and putting it in a premium style/form factor.

I knew a lot of people that had smartphones before the iPhone. They’re not an iPhone tho.

 

[Nibo]

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.

100% true. If i may I’d also like to add, one of Apple‘s biggest innovations is the supply chain Tim build. Steve may have “invented” the iPhone but Tim was the one to build it.

 

[Doomtomb]

Services could eclipse iPhone one day if Apple car service really becomes a thing

 

[5232152]

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

Calling Apple watch and Airpods new is more than a stretch.
And making a CPU is cool and good tech but hardly resolutionary by any standard.

 

[BuddyTronic]

Booya!

Another record quarter Apple!

That was also a tough year-over-year beat!

 

[planteater]

Mac overtook the iPad, nice.

No, Mac continued to be ahead of iPad. That’s not new. It’s been that way for years.

 

[planteater]

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

The install base for both Mac and iPad have been growing. Mac has just stayed ahead of iPad since iPads early years.

 

[Abazigal]

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

To me, their biggest innovation is their integrated ecosystem, and it’s the gift that keeps on giving in the form of customers buying more Apple products and services over time.

So the fact that Apple is still growing is hardly any surprise to me, and I believe that Apple is only just getting started and still has a lot of room to grow. Considering that products like the Apple Watch and AirPods have still only penetrated a relatively small portion of their overall user base (Apple Watch has just 10% of iPhone users, last I heard).

 

[Abazigal]

I knew a lot of people that had a smart watch before the apple watch was out, and I knew a lot of people with wireless earbuds before the Air pods were out.

None of that apple did on those were first or revolutionary, they just did their usual thing of making it function better than the versions in place at the time and putting it in a premium style/form factor.

I had a pebble watch prior to the Apple Watch. The difference in build quality and functionality was night and day. I really wouldn’t put both of them on the same pedestal. It’s like comparing a blackberry to an iPhone. Both technically belong to the same product category, but it was immediately obvious when one has gone as far as it could, while the other still had tons of untapped potential.

 

[sideshowuniqueuser]

I know Services are the star on this chart, but Mac revenue has pretty much doubled since the M1/Pro/Max came out.

It's hard to see on this chart, but on other charts I've seen, there was strong Mac growth during the Unibody MBP; less, but solid growth during Retina MBP; a plateau, or slight decline during the Butterfly keyboard debacle; slight growth once the butterfly keyboard got ditched and the 16" Intel MBP came out; then huge growth with M1, and another bump up with M1 Pro/Max. Build good products, and the products will follow.

As an aside, I'd love to see the breakdown of revenue from MBA, MBP, Mac Mini, iMac, iMac Pro, Mac Studio, and Mac Pro vs time. I have a suspicion that the MBP is the revenue leader of those, but might be way off the mark. Has anyone seen such a chart?

 

[steve09090]

To me, their biggest innovation is their integrated ecosystem, and it’s the gift that keeps on giving in the form of customers buying more Apple products and services over time.

Agreed. The reason Apple products are so good (never mind the superior build quality, the security/safety, the style points) is how cohesive they are. Airdrop/Airplay, Handoff, Universal Control. Other ecosystems can’t touch it.

 

[Karma*Police]

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.

Agreed. And in fact, the services business is a category Steve built and I’d be willing to bet the bulk of those sales are still coming from Apple music and iCloud.

Wearables… basically took the earbuds that was made iconic under Jobs and cut the wires. This was rumored for years. AW is new but it was also the worst new product category launch in a long time. There was no real vision and the only reason it survived is because Apple had a massive financial warchest and they realized it was a glorified Fitbit.

Tim Cook gets a lot of credit for simply managing the business that Steve built but the fact of the matter is, the pace of innovation has slowed to a crawl under Cook, even as R&D spending has skyrocketed and approaches 11 times what Steve spent per year.

 

[Karma*Police]

Mac overtook the iPad, nice.

Why is that nice? I think it goes to show how much opportunity was squandered with iPad. It was supposed to be the mainstream computer by now and it would be had Apple been aggressive about developing the platform.

Instead, neither platform has evolved much under Cook. M1 is just a rebranded A series chip which gave the Mac iPad-like abilities… instant boot, faster operation, and longer battery life… all great but the core Mac experience hasn’t changed much.

 

[TheYayAreaLiving 🎗️]

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!

Good stuff! Hopefully, you will be joining the pre-order thread for iPhone 14. A whole lot of excitement is to be expected ahead.

 

[steve09090]

Agreed. And in fact, the services business is a category Steve built and I’d be willing to bet the bulk of those sales are still coming from Apple music and iCloud.

Wearables… basically took the earbuds that was made iconic under Jobs and cut the wires. This was rumored for years. AW is new but it was also the worst new product category launch in a long time. There was no real vision and the only reason it survived is because Apple had a massive financial warchest and they realized it was a glorified Fitbit.

Tim Cook gets a lot of credit for simply managing the business that Steve built but the fact of the matter is, the pace of innovation has slowed to a crawl under Cook, even as R&D spending has skyrocketed and approaches 11 times what Steve spent per year.

What a load of rubbish. Steve Jobs skill was forcing people to develop under pressure. He wasn’t the sole architect of any of the products. Without a team, Apple would be nothing, and Tim Cook has carried on the legacy of Apple better than anyone could have conceived.

Do you think Steve Jobs had anything to do with the nano technology that makes the M series of chips so cool to run, or powerful? It’s designed in-house with the collaboration of TMSC.

With regard to the R&D, I’m sure Steve Jobs' failed push into Sapphire Glass & the Newton cost an absolute bomb. He also failed with a whole bunch of computer lines that got him sacked after he made the biggest fail by bringing in Sculley.

The Tim bashing and Steve Jobs lauding is pathetic. Each have their strengths and under Tim’s watch the company has grown exponentially.

 

[ignatius345]

To me, their biggest innovation is their integrated ecosystem, and it’s the gift that keeps on giving in the form of customers buying more Apple products and services over time.

It really is. I know that for me personally it would be pretty massively disruptive (and expensive) to switch platforms at this point.

 

[mannyvel]

Go iPhone Mini!