Sector: Electronic Technology
Industry: Telecommunications Equipment
Apple, Inc engages in the design, manufacture, and sale of smartphones, personal computers, tablets, wearables and accessories, and other variety of related services. It operates through the following geographical segments: Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The Americas segment includes North and South America.
The Europe segment consists of European countries, as well as India, the Middle East, and Africa. The Greater China segment comprises of China, Hong Kong, and Taiwan. The Rest of Asia Pacific segment includes Australia and Asian countries.
Its products and services include iPhone, Mac, iPad, AirPods, Apple TV, Apple Watch, Beats products, Apple Care, iCloud, digital content stores, streaming, and licensing services. The company was founded by Steven Paul Jobs, Ronald Gerald Wayne, and Stephen G. Wozniak in 1977 and is headquartered in Cupertino, CA.
1 Apple Park Way
Cupertino CALIFORNIA 95014
CEO: Timothy D. Cook
Apple Reports Record 1Q 2022
Results: $34.6B Profit on $123.9B Revenue
Apple has just made public its financial data for the first fiscal quarter of the year 2022, which coincides with the fourth calendar quarter of the year 2021.
Apple reported a quarterly revenue of $123.9 billion and a net quarterly profit of $34.6 billion, which is equivalent to $2.10 per diluted share. This is a significant increase from the previous year’s quarterly revenue of $111.4 billion and net quarterly profit of $28.8 billion, which was equivalent to $1.68 per diluted share.
Apple’s sales and profitability for the quarter were all-time records, despite the fact that the company had earlier warned that it would be hampered in its ability to satisfy the demand of its customers throughout the quarter due to headwinds caused by chip shortages and other supply chain problems. The income generated by Apple’s iPhone, Mac, Wearables, and Services divisions all reached new heights for the company.
The gross margin for the period was 43.8 percent, which is an increase over the previous year’s figure of 39.8 percent for the same period. Additionally, Apple has announced a quarterly dividend payment of $0.22 per share, which is due to shareholders of record as of February 7 and will be paid on February 10.
Tim Cook, CEO of Apple INC, said that the company’s record-breaking profits for this quarter were made possible by their “most inventive array of goods and services ever.” “We are pleased to see the reaction from clients all across the globe at a time when it has never been more crucial to remain connected. We are making strides toward our goal of becoming carbon neutral across our supply chain and products by the year 2030, and we are also making headway in our efforts to promote educational equity and racial justice. We are doing everything in our power to contribute to the creation of a better world.
Apple is continuing its practice of not providing financial forecasts for the current quarter that will finish in March, which it has maintained for well over a year at this point.
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