Apple News

Apple Reports $123.9 Billion in Revenue, Highest Ever

CUPERTINO Apple announced financial results for its fiscal 2022 first quarter ended last Christmas on December 25, 2021. The Company posted an all-time revenue record of $123.9 billion, up 11 percent year over year, and quarterly earnings per diluted share of $2.10.

Apple reported $71.6 billion in revenue just from iPhone sales, up from $65.5 billion a year ago, which includes the recently launched iPhone 13 and iPhone 13 Pro. The company reported sales gains in all categories — iMac, Services and Wearables — with the iPad the only group seeing a sales decline.

“This quarter’s record results were made possible by our most innovative lineup of products and services ever,” said Tim Cook, Apple’s CEO. “We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”

Apple now has a whopping $63.9 billion in cash and marketable securities on hand.

“The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “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.”