Apple Posts Strong Q1 2022 Financials after Holiday Season Sales

Today, Apple announced its financial performance for the first quarter of 2022. It posted an all-time record high revenue of $123.9 billion, an 11 percent increase year-on-year.

The company’s board of directors declared a cash dividend of $0.22 per share of the common stock while the quarterly earnings per diluted share stood at $2.10. The company’s net quarterly profits were pegged at $34.6 billion compared to a net quarterly profit of $28.8 billion in Q1 2021.

The company’s CFO Luca Maestri remarked that the recent product launches propelled the company to “double-digit growth in revenue and earnings” and set a new record high for the installed base of active devices.

“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.”

The company CEO Tim Cook also voiced a similar sentiment. He said, “This quarter’s record results were made possible by our most innovative lineup of products and services ever.” He added that he was “gratified” to see the response from customers. He also mentioned that Apple is making rapid strides towards its goal of achieving carbon neutrality by 2030 while “pushing forward with work in education and racial equity, and justice.”

iPhone still contributes a majority of the company’s revenue in Q1 2022

The iPhone maker has not issued any guidance for the current quarter ending March 2022.


[Via Apple Newsroom]
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