Apple Q2 2022 Results - $97.28 Billion of Revenue

Apple has just published its financial results for Q2 2022. The company posted revenue of $97.28 billion. Apple CEO Tim Cook said:

“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” said Tim Cook, Apple’s CEO. “We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind.”

Expectations for Q2 2022

Apple didn’t provide guidance for Q2 2022, but going into today’s earnings call, Yahoo Finance reported the following analyst expectations::

The Zacks Consensus Estimate for revenues is currently pegged at $94.79 billion, indicating growth of 5.82% from the year-ago quarter’s reported figure.

Graphical Visualization

After the break, we’ve compiled a graphical visualization of Apple’s Q2 2022 financial results.

Twitter Reactions to Apple’s Earnings

LM: Supply chain constraints should be in the $4B-8B range next quarter, significantly larger than this quarter.

— MacJournals.com (@macjournals) April 28, 2022

Apple install base all-time-high driving 17% growth in services and 825 million paid subs.

— Horace Dediu (@asymco) April 28, 2022

For years, Apple reported ~$20 billion of Mac revenue annually. Apple just reported $10 billion of Mac between January and March and that included supply issues.

— Neil Cybart (@neilcybart) April 28, 2022

Apple hitting roughly inline with my expectations, with iPad a bit light due to supply chain disruptions still.

Dividend increased + another big share buyback extension (again as expected)

The train rolls on as scheduled.$AAPL

— Kirk Burgess (@kirkburgess) April 28, 2022

Apple posts big beat and 9% revenue pop, authorizes another $90 billion in share buybacks https://t.co/IwTdDlH1TL

— CNBC (@CNBC) April 28, 2022

The holiday quarter is always Apple’s biggest quarter but this March quarter was only the third highest quarterly revenue in its history, surpassed only by the last two holiday quarters. This March Q was bigger than Christmas Q 2019, but quite a large margin.

— Horace Dediu (@asymco) April 28, 2022

The holiday quarter is always Apple’s biggest quarter but this March quarter was only the third highest quarterly revenue in its history, surpassed only by the last two holiday quarters. This March Q was bigger than Christmas Q 2019, but quite a large margin.

— Horace Dediu (@asymco) April 28, 2022

Apple Services revenues are growing much faster than expenses. In other words, the money Apple is pouring into Apple TV+ (and fitness and…) is a good investment.

— Avi Greengart (@greengart) April 28, 2022

Apple gross margins:

36.4% on hardware/products
72.6% on services (new record)

— Patrick McGee (@PatrickMcGee_) April 28, 2022

https://twitter.com/stevekovach/status/1519778164494540800?s=21&t=iJUxCRgsKGPzIExQcfl3PQ

Apple’s 9% revenue growth was on top of the 54% growth a year earlier.

— Horace Dediu (@asymco) April 28, 2022

EARNINGS: Apple Q2 EPS $1.52 vs. $1.43 Est.; Q2 Revs. $97.28B vs. $93.89B Est. • $AAPL authorizes new $90 billion share buyback, hikes dividend 5%https://t.co/izzRvq8Cx3 pic.twitter.com/MjyH4soO0d

— CNBC Now (@CNBCnow) April 28, 2022

Apple’s Q2 earnings are impressive, given the economic conditions! $AAPL

Revenue: $97.28B vs. $93.89B estimated

iPhone sales: $50.57B vs. $47.88B estimated

EPS $1.52 vs. $1.43 estimated

— Brandon Butch (@BrandonButch) April 28, 2022

EARNINGS: Apple Q2 EPS $1.52 vs. $1.43 Est.; Q2 Revs. $97.28B vs. $93.89B Est. • $AAPL authorizes new $90 billion share buyback, hikes dividend 5%. @stevekovach has the details. https://t.co/2w6Esmr3C7 pic.twitter.com/7wYao2dzjC

— CNBC (@CNBC) April 28, 2022