Apple announced its financial results for the second fiscal quarter of 2022, the March quarter, which corresponds to the first quarter of the year, and for this quarter, Apple recorded unexpectedly record revenues, and it expects difficulties in meeting demand in the next quarter. After the results were announced, they were compared to other phone companies, which witnessed a significant decrease. For more details, the report continued.
For the quarter, Apple reported revenue of $97.3 billion and net profit quarterly $25.0 billion, or $1.52 per diluted share, compared to revenue of $89.6 billion and net profit quarterly of $23.6 billion, or $1.40 per diluted share, in the corresponding quarter of last year.
Apple's revenue and profit hit record levels with gross margin for the quarter at 43.7%, compared to 42.5% in the same quarter last year. Apple also announced an increase in dividends of $0.23 per share, up from $0.22 per share, and dividends will be distributed on May 12 to shareholders of record as of May 9.
Apple also authorized a $90 billion increase in the stock buyback program. Tim Cook said: “The record results this quarter are testament to Apple's relentless focus on innovation and our ability to create the best products and services in the world. We're excited to see the strong customer response to our new products. In addition to the progress we are making to become carbon neutral across the supply chain and our products by 2030, we are committed, as always, to being a force for a better world, both in what we make and what we leave behind.”
As has been the case for two years now, Apple is not issuing guidance for the current quarter ending in June.
Apple saw growth in the iPhone, Mac, wearables, and services segment, but iPad revenue saw a nearly 2% drop compared to the same quarter last year.
“We are very pleased with our record business results for the March quarter, where we set record revenue for services and revenue records for the March quarter for iPhone, Mac, wearables, home and accessories,” said Luca Maestri, Apple's chief financial officer.
Tim Cook told CNBC that its iPad line continued to face "very significant" supply restrictions during the March quarter, and details Apple's earnings results for the March quarter:
IPhone: $50.5 billion, up from $47.9 billion in the same quarter last year.
iPad: $7.6 billion, down from $7.8 billion in the previous quarter last year.
MacSince the launch of Mac Silicon devices in November 2020, Apple has continued to post strong sales growth, with Apple's revenue in the quarter reaching $10.4 billion, up from $9.1 billion in the same quarter last year.
Wearable and home appliances and accessories: $8.8 billion, up from $7.8 billion in the same quarter last year.
Services : $19.8 billion, up from $16.9 billion in the same quarter last year. This includes wearables, home and accessories, Apple Watch, Apple TV, HomePod mini, iPod touch, AirPods, Beats headphones, and accessories such as iPhone cases and Apple Watch bands And others, such as App Store services, Apple Music, Apple Arcade, Apple TV +, Apple Fitness +, iCloud, Apple Pay, AppleCare, and more.
Apple expects supply restrictions to continue in the third quarter of 2022
Apple expects continued supply issues to continue to affect product sales in the third quarter of 2022. In the second quarter, Apple had some difficulties in meeting demand for the iPhone, iPad and Mac due to supply constraints, and it will get worse in the third quarter 2022.
Apple's chief financial officer said the disruptions due to COVID-19 in China and the shortage of silicon were making it difficult to meet all customer demands.
Supply restrictions will cost Apple $4 to $8 billion depending on how long it takes suppliers in China to get back up and running, according to Tim Cook, all of the supply issues centered around the Shanghai corridor, and while nearly all factories have reopened, it will take some time for them to get back to normal. Standard production levels.
From now on, supply issues will primarily affect iPads and high-end MacBook Pro models, and this will ultimately affect Apple's revenue for the June quarter, Tim Cook said.
Co. is the only company that increased shipments year-over-year in the last quarter
Apple was the only company that saw a year-over-year increase in shipments in the last quarter, while Samsung, Oppo, Xiaomi, and others saw sharp declines.
After Apple announced its March quarter earnings, with revenue exceeding $97 billion, exceeding expectations, Strategy Analytics, Canalys and IDC shared their reports on smartphone shipments for the fourth quarter, all varying in numbers and exact estimates, but in all three reports, Apple was It is the only company that experienced growth in the last quarter.
According to information provided by Canalys, Apple experienced 8% growth compared to the same quarter last year, now capturing 18% of the total market share, and Apple still lags behind Samsung in its overall market share, but Samsung saw a 4% drop. in the last quarter. Strategy Analytics reports that other Android smartphone makers, such as Oppo and Vivo, have seen a 29% and 30% decline in their market share.
Apple said in the last quarter that the iPhone grew more than 5% year-on-year, which represents $50.6 billion despite ongoing supply constraints. It is strong and it is expected to continue to be in demand.
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I hope Apple will download the new iPhone with four cameras
What is the fourth one?