Apple announced financial results for the second quarter of fiscal 2022. The quarter, which as per Apple, ended on March 26, 2022, yielded some solid numbers for the Cupertino-based tech giant. Apple posted a March quarter revenue record of $97.3 billion, up 9 per cent year over year.
How did Apple’s products fare?
Compared to the corresponding quarter last year, Apple’s smartphone business — driven by iPhone 13 — grew by 5.5%. Apple revealed that revenue from iPhone in the quarter was around $50.5 billion, which is up from $47.8 billion last year. Apple CEO Tim Cook, in an interview with CNBC, said that there were a “record number of switchers” — the Android converts — in the quarter.
The transition from Intel processors to its own M1 chips seems to have paid quite well for Apple. The revenue from Mac in the quarter was up almost 15% and Apple raked in close to 10.4 billion.
If the Mac and iPhone have been doing well, then the numbers from the iPad didn’t make for happy reading for Apple. Revenue from iPad in the quarter stood at $7.65 billion, which is down 2% compared to the previous year. Cook said that the supply chain constraints had an impact on the sales of iPad.
Apple Watch, AirPods and Beats wearables all seem to be doing quite well as the revenue from them was close to $8.8 billion. Apple’s wearables business — if it were a standalone company — is now as big as a Fortune 100 company.
The Services business — including Apple Care, App Store, and iCloud among others — continues to be robust for Apple as the revenue from it was $19.82 billion. Apple claims that it now has more than 825 million paid subscriptions across Services, up 165 million in the last 12 months
“We are very pleased with our record business results for the March quarter, as we set an all-time revenue record for Services and March quarter revenue records for iPhone, Mac, and Wearables, Home and Accessories”, said Luca Maestri, Apple’s CFO.
Tech News Source link