Apple has a habit of shattering earnings report records, particularly during the holiday shopping season. And Q1 2022 has already beaten them all: Apple has just destroyed its result of the recent record by a large margin. Apple’s revenue of $123.9 billion and earnings per share of $2.10 easily beat Stock Market projections of $118.66 billion and $1.89, accordingly. Apple reported a profit of $34.6 billion, which was significantly higher than the $37 billion forecasts.
Apple’s Becomes The Highest Earning Record in 2022
Regardless of how you look at it, the iPhone had an extremely successful year. Nothing less would have been expected given that it was the holiday season and the first full quarter of availability for the iPhone 13, 13 mini, 13 Pro, and 13 Pro Max. In the first quarter of 2019, iPhone unit sales totaled $71.63 billion, up 9% from the same period last year.
All of Apple’s other businesses, with the exception of the iPad, rose year over year, as did all of its operating divisions save operations. The Mac was up by 25%, services grew by 24% and wearables increased by 13%. By 2022, Apple is expected to release a new Mac Pro built on its own silicon. In the coming months, next-generation AirPods are anticipated, as well as a redesigned iPad Pro and typical iPhone refreshes when fall rolls around.
According to The Newspaper, Apple CEO Tim Cook expects the supplier issue would be resolved soon. “Across the range, we saw supply difficulties,” he said. “We anticipate being less constricted in March than we were in the fourth quarter.”