Apple records best quarter history despite global chip crisis

by Jerry

Apple presented on Thursday (27) the financial report for the first fiscal quarter of 2022, ended December 25, 2021. According to the balance sheet, big tech has managed to record an all-time record of revenue ($123.9 billion), despite the global chip shortage that has hit several industries since 2020. CEO Tim Cook attributed the success to what he called the “most innovative product and service line of all time.”

Apple’s result exceeds estimates. The company, which recently became the first in the world to be worth $3 trillion, said revenue for the quarter grew 11 percent year-on-year, and total profit was $34.63 billion (up from $28.75 billion a year earlier).

With the report released, the company’s shares rose 6% in the after market — that is, after normal trading hours on the stock exchange — in New York.

iPhone 13 is successful and category grows 9%
As usual, the product sector is the largest responsible for revenue on record, with a total of $104.4 billion.

The iPhone is the biggest star, accounting for $71.63 billion of the total. For comparison, in the previous quarter, Apple’s revenue from smartphones was $38.87 billion — at the time, the company also said it lost $6 billion due to the chip crisis.

Despite this, an increase for this category was already expected, since Apple launched the iPhone 13 line in September. The result, however, was better than expected: there was growth of 9% year on year, above analysts’ expectations.

In addition, Apple recorded a 25% increase in sales of Macs (US$10.85 billion), which surf a good wave with the launch of new computers with own-production M1 Pro and M1 Max chips.

The category of iPads, which had been growing during the pandemic, showed a slowdown. Recorded revenue was $7.25 billion, a 14% year-on-year drop.Finally, Apple continues to grow with the service sector, which made $19.52 billion in revenue (24% higher year-on-year). The area involves App Store transactions and company subscription services such as iCloud, Apple Music, and Apple TV+. In the previous quarter, the total for this area was $18.28 billion.

“We are pleased to see the response from customers around the world at a time when staying connected has never been more important,” Tim Cook said in a press release.

CFO Luca Maestri added: “The strong customer response to our recent launch of new products and services has driven double-digit growth in revenue and profits, and helped set an all-time record for our installed active device base.”

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