Apple reports record Q1 2022 holiday earnings: $123.95 billion revenue

Apple (AAPL) has officially reported its earnings for fiscal Q1 2022, covering the months of October, November, and December (aka calendar Q4). This is Apple’s ever-important holiday quarter, and it reported a revenue record of $123.95 billion, up 11% year over year. The company reported profit of $34.6 billion and earnings per share of $2.10.

Head below for 9to5Mac’s full coverage of AAPL’s fiscal Q1 2022 earnings release.

Analysts had high expectations for Apple’s holiday quarter, predicting a record revenue and profit. It’s important to note that Apple itself had warned that it would be negatively impacted by supply constraints during the holiday quarter, but it appears to have weathered that storm quite well.

The Wall Street consensus for Apple revenue had been $118.28 billion, so it was able to handily beat that despite the constraints.

Apple no longer reports unit sales for any of its products but instead reports a breakdown of revenue by product category. Here is the full breakdown for the fiscal Q1 2022: 

• $71.63 billion: iPhone (up 9% year over year)
• $10.85 billion: Mac (up 25% year over year)
• $7.25 billion: iPad (down 14% year over year)
• $14.70 billion: Wearables, home, and accessories (up 13% year over year)
• $19.5 billion: Services (up 24% year over year)

Executive quotes

Apple CEO Tim Cook had the following to say about Apple’s record-setting Q1 2022 earnings results:

This quarter’s record results were made possible by our most innovative lineup of products and services ever,” said Tim Cook, Apple’s CEO. “We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.

And CFO Luca Maestri added

The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “These record operating results allowed us to return nearly $27 billion to our shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.

Wrap up

You can read Apple’s full earnings release in this post on Apple Newsroom. As usual, our friends over at SixColors have some excellent charts showcasing Apple’s Q1 2022.

Stay tuned to 9to5Mac for more coverage from the AAPL earnings call with Tim Cook and Luca Maestri next. You can listen live to the AAPL Q1 2022 earnings call audio streaming at the top of the hour here or listen back shortly after the call with Apple Podcasts.