Apple says, “What disruption?”
© iStock.
Global component shortages and disrupted supply chains are affecting the income of all major technology companies, except… Apple! The company has grown accustomed to reporting record quarterly earnings, especially in the company’s first fiscal quarter (October-December). This Q1 2022, which includes the holiday shopping season, is no exception. In fact, Apple just reported the largest quarterly gains in its history. Driven by sales of the iPhone 13 lineup and continued growth in its services business, Apple posted income of US $123.9 billion and earnings-per-share of $2.10, easily beating Wall Street’s expectations, which forecast $118.66 billion and $1.89, respectively. Apple posted a profit of $34.6 billion, which is also a record.
| Q1 2022 (billion USD) |
Q1 2021 (billion USD) |
Change | |
|---|---|---|---|
| Income | 123,945 | 111,439 | +11.22 % |
| Profit | 34,630 | 28,755 | +20.43 % |
| iPhone | 71,628 | 65,597 | +9.19 % |
| Services | 19,516 | 15,761 | +23.82 % |
| Other products | 14,701 | 12,971 | +13.33 % |
| Mac | 10,852 | 8,675 | +25.09 % |
| iPad | 7,248 | 8,435 | -14.07 % |
Tim Cook told CNBC that the company’s supply issues are improving. He added that while the December quarter was worse than the September quarter (which is not reflected in the results), he still expected supply to improve for the quarter ending in March.
⇨ The Verge, Chris Welch, “Apple made more money than ever, even with the supply chain crunch.”
2022-01-27
