Apple announced its financial results for the third fiscal quarter of 2022, which corresponds to the second quarter of the year, as iPhone revenue increased and revenue from other products decreased. Here is a summary of what was included in the earnings report for the results of the third quarter of this year.
For the quarter, Apple reported revenue of $83 billion and a quarterly net profit of $19.4 billion, compared to revenue of $81.4 billion and a quarterly net profit of $21.7 billion in the same quarter last year.
Gross margin was 43.3%, according to Apple's chief financial officer Luca Maestri. Apple also announced a quarterly dividend of $0.23 per share, to be paid August 11 to shareholders of record effective August 8.
While the revenue of the iPhone and services recorded an increase, in contrast, the revenue of the Mac, iPad, wearable devices, home and accessories decreased. Looking at the classification by category of Apple's revenue for the third quarter of 2022, we find that:
◉ Achieve the iPhone Total revenue was $40.6 billion, up from $39.5 billion in the same quarter last year.
◉ And achieved the iPad Revenues reached $7.2 billion, down from $7.3 billion in the same quarter last year.
◉ And achieved the Mac Revenue was $7.3 billion, down from $8.2 billion in the same quarter last year.
◉ Wearables, Home & AccessoriesRevenue was $8 billion, down from $8.7 billion in the same quarter last year.
◉ Services Revenue: $19.6 billion, up from $17.4 billion in the same quarter.
Tim Cook said:
“The record results for the quarter speak to Apple's continued efforts to innovate, develop new capabilities, and enrich the lives of its customers, and as always, we drive our values, and we express them in everything we build, from new features designed to protect user privacy and security, to tools that will Enhancing accessibility, which is part of our long-standing commitment to creating products for everyone.”
As has been the case for more than two years now, Apple has not issued guidance for the current quarter, which ends in September.
Tim Cook's forecast for the next quarter
As usual since the start of the Corona pandemic, Apple has not provided any official revenue guidance for the current quarter, but Tim Cook expects Apple's quarterly revenue growth to accelerate in September compared to the June quarter.
Speaking on Apple's earnings call, Cook said the company faces a "mixture of headwinds" affecting its revenue, including a strong US dollar that's expected to cause foreign currency headwinds of about $5 billion in the September quarter, along with Supply restrictions and business loss in Russia due to its war on Ukraine. He also said the wearables, home and accessories category is also facing headwinds.
Apple reported $83.4 billion in revenue in the September 2021 quarter. On average, analysts expect Apple to report $90 billion in revenue in the September 2022 quarter.
Apple's fourth quarter began on June 26 and will run until September 24. This quarter has already included the start of orders for the new MacBook Air with the M2 chip, and before the end of the quarter there will be pre-orders for the iPhone 14 that may positively affect it.