Apple reports $34.6B profit over $123.9B revenue

27th January, 2022 at 5:31 pm by Shreyaan

Apple's revenue for the quarter was $123.9 billion, with a net quarterly profit of $34.6 billion, or $2.10 per diluted share, up from $111.4 billion and a net quarterly profit of $28.8 billion, or $1.68 per diluted share in the prior quarter.

Despite headwinds from processor shortages and other supply chain concerns, Apple's revenue and profitability for the quarter were all-time highs. Apple's iPhone, Mac, Wearables, and Services businesses all set new revenue records.

The gross margin for the quarter was 43.8 percent, up from 39.8 percent a year ago. Apple also declared a $0.22 per share quarterly dividend, payable on February 10 to shareholders of record on February 7.

“This quarter’s record results were made possible by our most innovative lineup of products and services ever,” said Tim Cook, Apple’s CEO. “We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”

Apple is not providing guidance for the current quarter, which ends in March, as it has been for well over a year.

• Apple is now the most profitable company in the world