For the June quarter of 2022, Apple reported a revenue record of $83 billion with 2% Y-o-Y growth and quarterly earnings per diluted share of $1.20. The company claims that iPhone and Service boosted Q3, 2022 revenue, and its active installed base reached an all-time high across major product categories.
Delighted by the performance, Apple CEO Tim Cook accredited the company’s success to its strong innovative, and more importantly, accessible product lineup designed and developed for everyone.
“This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers. As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.”
iPhone and Services drove Apple’s sales in Q3, 2022
- iPhone – $40.7 billion ( an increase from $39.6 billion in Q3, 2021)
- Mac – $7.4 billion ( a decline from $8.2 billion in Q3, 2021)
- iPad – $7.2 billion (slight decline from $7.4 billion in in Q3, 2021)
- Wearables, home, and Accessories – $8.1 billion (a slight decline from $8.8 billion in Q3, 2021)
- Services – $19.6 billion (an increase from $17.5 billion in Q3, 2021)
In spite of inflation, COVID-19 lockdowns, and the global chip crisis, Apple managed a steady supply chain and performed a little higher than expectations. iPhone 13 had been strong since its launch and the dip in iPhone shipments in China because of the COVID-19 lockdown in March-April was recovered soon after the economy reopened.
Apple CFO Luca Maestri acknowledged the company’s effective management of operations during uncertain times as its strong point.
“Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. 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. During the quarter, we generated nearly $23 billion in operating cash flow, returned over $28 billion to our shareholders, and continued to invest in our long-term growth plans.”