AppleRevenue increased by about 9% on an annual basis in the quarter ending March. Said on thursdayInvestors are worried about the deterioration of the macroeconomic environment, which will affect the demand for high-end smartphones and computers.
Apple stocks initially rose more than 2% and then rose less than 1% in expanded trading.
Here’s how Apple did it for Refinitiv’s consensus estimates:
- EPS: Estimate of $ 1.52 vs. $ 1.43
- Revenue: $ 97.28 billion, up 8.59% year-on-year, compared to an estimated $ 93.89 billion
- iPhone Revenue: Estimated $ 47.88 billion vs. $ 50.57 billion, up 5.5% year-on-year
- Service revenue: $ 19.82 billion, up 17.28% year-on-year, compared to an estimated $ 19.72 billion
- Revenue of other products: Estimated $ 9.50 billion vs. $ 8.81 billion, up 12.37% year-on-year
- Mac Revenue: $ 10.44 billion, up 14.73% year-on-year from an estimated $ 9.25 billion
- iPad Revenue: $ 7.65 billion, down 192% year-on-year, compared to an estimated $ 7.14 billion
- gross profit: 43.7% vs 43.1% estimate
Apple didn’t provide forecasts for the quarter. Apple has not provided official revenue guidance since February 2020 due to the uncertainty of the Covid-19 pandemic.
According to Apple, the board has approved a $ 90 billion share buyback, maintaining its pace as a public company spending the most on its share buybacks. According to the S & P Dow Jones Index, Apple spent $ 88.3 billion on repurchases in 2021.
Apple has increased its dividend by 5% to $ 0.23 per share.
Apple’s iPhone business grew by more than 5% this quarter, adding additional evidence that the current iPhone 13 model is doing well.
Apple CEO Tim Cook said the iPhone business was a “switcher,” a successful quarter for people who used to have Android smartphones but decided to buy an iPhone.
Apple CEO Tim Cook told CNBC’s Steve Kovac that “there were record-breaking upgradeers this quarter that helped switchers grow with double-digit power.”
Beat also suggests that Apple’s premium smartphone business may be isolated from concerns about losing consumer confidence. The new iPhone was launched in early 2021, which made the iPhone year-on-year difficult, but sales also increased.
“It’s definitely a strong cycle,” Cook said.
Mac computers continued to grow strongly after Apple moved its lineup to use its own M1 chip instead of the Intel processor. Sales increased nearly 15% year-on-year to $ 10.44 billion.
However, Apple’s iPad business remains flat, with sales down 2.1% from a year ago, despite model updates with Apple’s M1 chip. According to Cook, the iPad business this quarter had “very big supply constraints.”
Apple’s profitable services business, which includes subscriptions, license fees, and extended warranty, has grown by over 17% and continues to grow strongly. However, Apple’s services business over the past two years has been more than 3% to 8% higher than Wall Street’s expectations, only 0.51% higher than Refinitiv’s estimate this quarter.
” [Services] In an interview with CNBC, Apple CFO Luca Maestri said, “Comps in COVID are a bit weird because of the blockade and subsequent resumptions,” and over the past two years, “digital content has passed.” I did. ” roof. ”
The fastest growing region for Apple is the Americas, where sales increased 20% to $ 50.57 billion this quarter. Greater China, including Hong Kong and Taiwan, grew at a pace of 3.47% to $ 18.34 billion. Cook said the Covid-related blockade of China did not affect Apple during the quarter.