Apple Q1 2022 Results - $123.95 Billion Revenue

Apple has just published its financial results for Q1 2022. The company posted revenue of $123.95 billion. Apple CEO Tim Cook said:

“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.”

Expectations for Q1 2022 and the Year-Ago Quarter (Q1 2021)

Apple didn’t provide guidance for Q1 2022, but going into today’s earnings call, Yahoo Finance reported the following analyst expectations::

The consensus mark for earnings is currently pegged at $1.89 per share, unchanged over the past 30 days and indicating 12.5% growth from the figure reported in the year-ago quarter.

Graphical Visualization

After the break, we’ve compiled a graphical visualization of Apple’s Q4 2021 financial results.

Details and Analysis from Twitter

Apple revenue pops 11% to $123.9 billion, Cook says supply chain improving https://t.co/p6Rzp90clU

— CNBC (@CNBC) January 27, 2022

LM: No quarterly guidance but some insights: Solid year-over-year revenue growth and expect a March revenue record despite supply constraints. Revenue growth *rate* will decline sequentially, partially because there was more channel fill in the March 2021 quarter of iPhone 12.

— MacJournals.com (@macjournals) January 27, 2022

LM: Returning $27 billion to shareholders included around $3B in dividends and over $14B in open-market repurchases of 93M Apple shares.

— MacJournals.com (@macjournals) January 27, 2022

2/3 of Apple Watch buyers are new to the product.

— Horace Dediu (@asymco) January 27, 2022

Apple services margin: 72.4%

— Horace Dediu (@asymco) January 27, 2022

See the new Apple active devices number in context: pic.twitter.com/pLnvsoHywa

— Horace Dediu (@asymco) January 27, 2022

Apple reports 1.8 billion active devices !!!!

— Horace Dediu (@asymco) January 27, 2022

Tim Cook to CNBC on China: “We grew 21% in China, which we’re very proud of. It was an all time revenue record for us in the country … We had a very strong customer response to the iPhone 13 family and in particular, we set a record number of upgraders in China…” (1/2)

— MacJournals.com (@macjournals) January 27, 2022

To summarize:
Revenues grew 11.2%
EPS grew 25%
iPhone grew at 9.2% rate
Mac grew at 25%
Services grew at 24%
Wearables/Home grew at 13% rate
iPad shrank at 14% rate (due to supply constraints/priority allocation to iPhone) pic.twitter.com/XheQrlFzJd

— Horace Dediu (@asymco) January 27, 2022

https://twitter.com/mattrosoff/status/1486814957966667781?s=21

Apple just released 1Q22 earnings:

$123.9 billion of revenue
$2.10 earnings per share (EPS)

My estimates were:

$127.1 billion of revenue
$2.13 EPS

I had the highest estimates out there. Consensus was way back at $118B of revenue and $1.88 EPS.

— Neil Cybart (@neilcybart) January 27, 2022

$AAPL Q1 2022:
- Revenue up 11% to $123.9 billion
- Profit up 20% to $34.6 billion
- iPhone up 9%
- Mac up 25%
- iPad down 14%
- Wearables/Home/Accessories sales up 13%
- Services up 24%

— Emil Protalinski (@EPro) January 27, 2022

EARNINGS: Apple Q1 EPS $2.10 vs. $1.89 Est.; Q1 Revs. $123.95B vs. $118.66B Est. • $AAPL https://t.co/prBBoqVA6n pic.twitter.com/DB2Ir2TWfM

— CNBC Now (@CNBCnow) January 27, 2022

Tim Cook to CNBC: “The last two weeks of the quarter were the best two weeks for iPhone customer demand during the quarter. That’s not odd because that is associated with gift giving, but it bodes well to the momentum …” (1/2)

— MacJournals.com (@macjournals) January 27, 2022

CNBC: Services $19.52B. iPhone $72.6B in revenue. Mac revenues $10.85B. iPad Revenues $7.25B. iPad was the only segment that didn’t beat analyst estimates, and CNBC says Apple says the iPad was severely supply constrained.

— MacJournals.com (@macjournals) January 27, 2022