Apple has another record-breaking quarter, reporting $97.28B in revenue for Q2 2022
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Apple has confirmed it has raked in $97.28 billion in revenue in the second quarter of 2022, again breaking its year-over-year figures in a still challenging environment.
Announced by the iPhone maker on Thursday ahead of the usually-scheduled conference call with analysts, the revenue for the quarter ending March 2022 is 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. The diluted earnings per share is set at $1.52.
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, and the Apple Polishing Cloth.
During the period, Apple also introduced new products, including the Studio Display, fifth-generation iPad Air, the third-gen iPhone SE, and the Mac Studio.
Revenue from iPhone in the quarter was $50.57 billion, a jump from Q1 2021's $47.9 billion, while iPad is down to $7.65 from $7.8 billion.
Mac revenue grew to $10.44 billion from $9.1 billion one year ago, and Wearables, Home, and Accessories rose to $8.8 billion from $7.8 billion.
Services, an ever-reliable growth arm for Apple, brought in $19.8 billion, up 17.26% from $16.9 billion last year.
"This quarter's record results are a testament to Apple's relentless focus on innovation and our ability to create the best products and services in the world," said Apple CEO Tim Cook. "We are delighted to see the strong customer response to our new products, as well as the progress we're making to become carbon neutral across our supply chain and our products by 2030."
As usual, Apple hasn't provided a public forecast for what it expected its results to be, a policy it has adopted throughout the pandemic.
"Continued strong customer demand for our products helped us achieve an all-time high for our installed base of active devices," said Luca Maestri, Apple's chief financial offier. "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."
Apple's board of directors declared a cash dividend of $0.23 per share, an increase of 5%. The dividend will be payable to shareholders of record as of the close of business on May 9, 2022. Apple also authorized another $90 billion in share repurchases.