Apple this week announced financial results for its third quarter of fiscal 2022, which is Apple’s calendar quarter ending June 26. The iPhone maker posted higher revenue growth and a smaller decline in profit compared to the same period a year earlier, beating analysts’ expectations.
Apple thus earned 83 billion dollars, which is 2% more than the year before. The profit amounted to 19.44 billion dollars, while in the same period last year it was 21.74 billion dollars. Earnings per share were $1.20, beating analysts’ expectations of $1.16.
By segment, revenue from sales of Mac computers, iPads and wearables fell, while revenue from sales of iPhones and revenue from services increased. The biggest growth was achieved by services from last year’s 17.48 billion dollars to 19.6 billion dollars, while the income from the sale of the iPhone grew from 39.57 billion dollars to 40.66 billion dollars. Revenues from Mac computers amounted to 7.38 billion dollars (last year 8.23 billion), from iPad 7.22 billion dollars (last year 7.36 billion), and from wearable devices 8.08 billion, in contrast to last year’s 8, 77 billion dollars.
Apple’s CEO Tim Cook said that they see the effects of inflation on the expenditure side and that the results were partly negatively affected by the stronger dollar. Apple expected that the component shortage would negatively affect revenues in the quarter by 4 to 8 billion dollars, but the result was this lower limit, that is, “only” 4 billion dollars in missed revenues.