Apple today officially reported its earnings for the third fiscal quarter of 2022, covering the second calendar quarter and the months of April, May, and June. A lot of eyes are on Apple as concerns mount over an economic downturn in the United States. Here’s what the company reported today.
For Q3 2022, Apple reported revenue of $83.0 billion and a profit of $19.4 billion. Earnings-per-share hit $1.20 for the quarter.
Apple’s Q3 2022 earnings
For Q3 2022, analyst predictions for revenue varied; $79.26B at the low end to $88.41B at the high end. The average across 26 analysts, however, was $82.81 billion.
Apple had not provided any guidance for Q3 2022, citing ongoing supply chain issues and continued disruptions caused by the COVID-19 pandemic. In fact, the company had even warned that supply constraints would cost it somewhere in the range of $4 billion to $8 billion in revenue for the quarter.
For comparison’s sake, in the same quarter a year ago, Apple reported $81.43 billion in revenue and profit of $21.74 billion. It reported earnings-per-share of $1.30. These numbers were boosted heavily by pandemic-induced spending, driven by strong iPad and Mac revenue growth.
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 Q3 2022:
- iPhone: $40.67 billion (Up 3% YOY)
- Mac: $7.38 billion (Down 10% YOY)
- iPad: $7.22 billion (Down 1.9%)
- Wearables: $8.08 billion (Down 7.8%)
- Services: $19.60 billion (Up 12% YOY)
Here’s what Apple CEO Tim Cook had to say about Apple’s Q3 2022 earnings results:
“This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers,” said Tim Cook, Apple’s CEO. “As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.”
And CFO Luca Maestri added:
“Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category,” said Luca Maestri, Apple’s CFO. “During the quarter, we generated nearly $23 billion in operating cash flow, returned over $28 billion to our shareholders, and continued to invest in our long-term growth plans.”
You can read Apple’s full earnings release in this post on Apple Newsroom. 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 Q3 2022 earnings call audio streaming at the top of the hour here or listen back shortly after the call with Apple Podcasts
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