After Wall Street closed yesterday, Apple presented the financial results for the first quarter of 2022. During these first three months of the year, Apple recorded iPhone sales of $ 50.57 billion, an increase of 5.5% over last year. For Tim Cook it is a great achievement, especially for the many Android users who have switched to iOS.
Apple records over $ 50 billion in iPhone sales
A quarter of growth, as Tim Cook also explains to CNBC. “We have record levels of people upgrading during the quarter and we have grown those who change operating systemwith a double-digit rate “.
Apple usually has a very strong end of the year, due to the iPhone launch in September. But the announcement of iPhone SE 3 it also supported the start of the following year, allowing for continued growth.
By contrast, the viPad sales fell by 2% from 7.81 to 7.65 billion dollars. Cook justified the iPad’s under-estimated takings with supply chain problems. Overall, according to the CEO, Apple has had financial performance above expectations.
Indeed Apple Services grow by 17.28%, which include everything from the App Store to iCloud, through Apple TV +. But compared to the other years, in which it closed above Wall Street expectations by 3% and 8%, this time it is ‘only’ better by 0.51%. According to CFO Luca Maestri it is due to the fact that during the lockdown of the the last two years cloud and streaming services have been very strong.
In total, Apple got it revenues of $ 97.28 billion, with a profit net of 25.01 billion dthe dollars. A net gain of $ 12.54 per share (+ 9.2%). Apple then declared dividends of 23 cents per share, a 5% increase. In addition, the Board has authorized a buyback of its own shares of 90 billion. The company’s market capitalization is 2.67 trillion dollars.