Apple posted another record-breaking quarter in Q2-2022 (by @appleinsider)

…results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world
~Tim Cook

Apple posted another record-breaking quarter, reporting $97.28 billion in revenue for the quarter ending March 2022, an increase year-over-year from the $89 billion reported in Q2 2021.

The quarter’s gross margin reached 43.7%, up from the year-ago quarter’s 42.5% figure. Operating expenses shifted from $10.6 billion in Q2 2021 to $12.6 billion in Q2 2022.

«Our strong operating performance generated over $28 billion in operating cash flow, and allowed us to return nearly $27 billion to our shareholders during the quarter.»

Origin: apple insider – Notes of interest from Apple’s Q2 2022 earnings report and conference call

48112-94054-apple-results-Q2-2022-Quarterly-Revenue-and-net-profit-xl

The period was the first full quarter of sales for the third-gen AirPods, the Apple Silicon 14-inch MacBook Pro and 16-inch MacBook Pro.

  • Q2 was Apple’s third-highest revenue of all time
  • «We will never stop striving to be a force of good in the world» – Cook
  • The last seven quarters have been the best ever for Mac
  • «Nearly half» of Mac buyers in the quarter were new to Mac, same for iPad
  • Wearables business alone about the same size as a Fortune 100 company
  • More than 825 million paid subscriptions across Services, up 165 million in the last 12 months
  • $193 billion in cash and marketable securities, total debt $120 billion
  • Annual increases in dividend going forward
  • Constraints to be in the range of $4 billion to $8 billion, more than experienced during March
  • Forex expected to be a headwind, additionally Russian sales have ceased
  • Question time!

Amit Daryanani – Evercore : Would like more detail geographically
Maestri: Happy in US, good quarter in Europe including Russia sales loss for a month of the quarter
In-line with expectations in Europe, China March quarter record.
Year-over-year launch timing of iPhone had an impact (later in 2020 than in 2021)
Japan impacted by foreign exchange with dollar appreciation against most currencies

Note from 9 to 5 mac
So all-in, that’s five factors likely to reduce Q3 revenue:

  • Component shortages
  • COVID-19 disruption in China
  • Exchange rate weaknesses
  • Loss of Russian sales
  • Inflation reducing consumer spending power