Apple Reports $83 Billion in Sales on iPhone Strength

<p>Apple reported financial results for its fiscal 2022 third quarter ended June 25&comma; 2022&period; The Company posted a June quarter revenue record of &dollar;83&period;0 billion&comma; up 2 percent year over year&period;<&sol;p>&NewLine;<p>The results were impressive even as the company faced supply issues in China&comma; the war in Ukraine and a strong dollar&period; Sales of Apple&&num;8217&semi;s iPhone accounted for &dollar;40&period;6 billion in revenue while Mac and iPad sales declined in the quarter due to supply constraints&period;<&sol;p>&NewLine;<p>Services revenue rose to &dollar;19&period;6 billion&comma; a 12&percnt; increase&period; Paid subscriptions for Apple saw strong growth with over 860 million subscriptions on its entire platform&comma; an increase of 160 million during the past year&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;This quarter’s record results speak to Apple’s constant efforts to innovate&comma; to advance new possibilities&comma; and to enrich the lives of our customers&comma;” said Tim Cook&comma; Apple’s CEO&period; &OpenCurlyDoubleQuote;As always&comma; we are leading with our values&comma; and expressing them in everything we build&comma; from new features that are designed to protect user privacy and security&comma; to tools that will enhance accessibility&comma; part of our longstanding commitment to create products for everyone&period;”<&sol;p>&NewLine;<p>Cook said Apple saw double digit growth in Brazil&comma; Indonesia and Vietnam&period; Revenue nearly doubled in India&period;<&sol;p>&NewLine;<p>&OpenCurlyDoubleQuote;Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment&period; We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category&comma;” said Luca Maestri&comma; Apple’s CFO&period; &OpenCurlyDoubleQuote;During the quarter&comma; we generated nearly &dollar;23 billion in operating cash flow&comma; returned over &dollar;28 billion to our shareholders&comma; and continued to invest in our long-term growth plans&period;”<&sol;p>&NewLine;<p>Apple’s board of directors has declared a cash dividend of &dollar;0&period;23 per share of the Company’s common stock&period; The dividend is payable on August 11&comma; 2022 to shareholders of record as of the close of business on August 8&comma; 2022&period;<&sol;p>&NewLine;