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Apple posts bumper revenue of US$83 billion for the third quarter of 2022

The MacBook Air M2. (Source: Apple)
The MacBook Air M2. (Source: Apple)
Market analysts have been less than optimistic about Apple's ability to live up to earlier estimates of how much revenue it could generate for its third fiscal quarter of 2022 (3FQ2022). However, those figures are now out there, and they show the Cupertino giant have defied those expectations with "record" takings for the 3 months. On the other hand, the new MacBooks Air and Pro could be said to have fallen short of their ability to contribute to this new report.

The market has feared that Apple's latest earnings would come in under the figure predicted for them throughout the OEM's fiscal 3Q2022, which ended on June 25. The hardware and software giant has been said to have faced much more adversity than it is accustomed to during those 3 months; for example, it predicted that unprecedented delays in its normal production schedule for new iPhones could cost it as much as US$8 billion at 1 point.

However, it has now dismissed those fears in its 3FQ2022 financial report, which also states that it made no less than US$83 billion for the quarter, or just over the average market estimate. These "record" takings exceed those of 3FQ2021 by 2%, and have allowed the company to report US$19.4 billion profits, and, thus, diluted earnings per share of US$1.20. Apple will thus pay dividends of US$0.23 per share of common stock for this quarter.

These astronomical revenues were apparently driven by iPhone sales, as well as Apple's much-valued services arm, categories that made ~US$41 billion (+3% year-on-year (YoY)) and ~US$20 billion (+12% YoY) respectively. On the other hand, the news wasn't as great for OEM's iPad, Watch or Mac lines, which declined by nearly 2%, 8% and 10% respectively.

In fact, its PC revenue fell by nearly US$1 billion compared to 3FQ2021, which might seem surprising in a quarter that saw the launch of the world's first M2-powered MacBook Air and MacBook Pro.

The former is perceived as having the potential to become one of Apple's best-selling laptops; however, as it has only been available to buy for about 2 weeks now, it has not been able to add much to any earning reports as yet. Therefore, its effect on Apple's revenues may have to wait until 4FQ2022 to manifest themselves.

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> Expert Reviews and News on Laptops, Smartphones and Tech Innovations > News > News Archive > Newsarchive 2022 07 > Apple posts bumper earnings of US$83 billion for the third quarter of 2022
Deirdre O'Donnell, 2022-07-31 (Update: 2022-07-31)