apple: iPhone, Mac ‘stars’ of the show, iPad numbers down, reveals Apple’s quarterly results

NEW DELHI: Apple announced financial results for the second quarter of fiscal 2022. The quarter, as according to Apple was completed on the 26th of March 2022, provided some good figures for the Cupertino-based technology giant. Apple recorded a quarter-end March record in revenue at $97.3 billion, which was up 9 percent over the previous one year.

What was the performance of Apple’s products? Compared to the same quarter last year, the company’s smartphone business that was powered through iPhone 13. increased by 5.5 percent. Apple disclosed that the revenue generated by iPhone during the first quarter was $50.5 billion that’s up from $47.8 billion last year. Apple Chief Executive Officer Tim Cookin an interview with CNBC reported that there was an “record number of switchers” — also known as Android converts in the quarter.
The switch of Intel processors to Apple’s own M1 chips appears to have resulted in a very good profit for Apple. The profit from Mac during the last quarter was up by nearly 15%, and Apple earned nearly $10.4 billion.

In the event that Mac and iPhone are doing well, then the figures from the iPad did not make for a pleasant reads for Apple. iPad’s revenues during the quarter was $7.65 billion that’s down by two percent compared to prior year. Cook claimed that shortages in supply chain have caused a decline in selling of iPad.

Apple Watch, AirPods and Beats wearables appear to be doing well since the total revenue generated by them was around $8.8 billion. Apple’s wearables business — as if it were a separate entity is now as large as the size of a Fortune 100 company.
The Services business, which includes Apple Care, App Store as well as iCloud in addition to other offerings remains strong for Apple with the total revenue generated from it reached $19.82 billion. Apple states that it currently boasts more than 825 millions paid-for subscriptions in Services which is up by to 165 million over the past twelve months.

“We are very pleased with our record business results for the March quarter, as we set an all-time revenue record for Services and March quarter revenue records for iPhone, Mac, and Wearables, Home and Accessories” the statement from Luca Maestri, Apple’s CFO .

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