Apple reports almost $100 billion in revenue so far this year, beating expectations

[Tudor Cibean]

Bottom line: Apple just had a record-breaking March quarter with impressive revenue growth when it comes to its services and Mac computers. iPads, on the other hand, didn't do so hot as they faced significant supply chain issues due to new pandemic waves in Asia.

Apple just announced financial results for its second fiscal quarter of 2022, which covers the months of January, February, and March. The Cupertino company beat analyst estimates with massive increases in both revenue and profit across most of its product lines.

For the quarter, Apple reported $97.3 billion in revenue, a nine percent increase year over year, and a profit of $25 billion, netting $1.52 in earnings per share.

Apple doesn't report unit sales for its products, providing a breakdown of revenue by category instead. iPhones continue to be the company's biggest earners, totaling $50.6 billion (up 5.5 percent YoY) in revenue in Q2. Macs made Apple $10.4 billion (up 14.3 percent YoY), while wearables brought in $8.8 billion (up 12.2 percent YoY).

The services category set an all-time revenue record at $19.8 billion, up 17.2 percent YoY. However, iPad revenues were down 2.2 percent YoY at just $7.6 billion. Apple CEO Tim Cook blamed the middling performance of its tablet business on the significant supply constraints it faced during the quarter.

Apple's services category includes the App Store, iCloud, Apple Music, and Apple TV+. It'll be interesting to see if the company can maintain its momentum in this area in the post-Covid era.

Apple refused to provide a forecast for the current quarter, citing continued uncertainty due to the pandemic. However, CFO Luca Maestri warned that supply constraints could hurt sales by up to $8 billion this quarter.

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https://www.techspot.com/news/94404-apple-reports-almost-100-billion-revenue-far-year.html

 

[RudyBob]

I wish all the production was in the USA. Maybe then they only make half that amount. Selfish people will be selfish no matter how much they have

 

[Mr Majestyk]

$100 billion in revenue, $2 million in tax.

 

[Dd663]

$100 billion in revenue, $2 million in tax.

That seems... disproportionate, to say the least. That's 0.002 percent taxation rate. If that's fine for Apple, why isn't income tax and sales tax 0.002%?

 

[Rocky4040]

The biggest reason they made so much cash is because their crap is 100 times over priced and apparently there are a lot of really really really stupid people out there that have more money than brain power to know when they are getting their pockets fleeced by a very over greedy company.

 

[yRaz]

That seems... disproportionate, to say the least. That's 0.002 percent taxation rate. If that's fine for Apple, why isn't income tax and sales tax 0.002%?

I really hate my tax bracket. After state and property taxes I pay 38% of my income and I'm just under the next tax bracket that would actually drop me down to I think 17% combined. If I could make another 10k a uear I'd save like 20k on my taxes

 

[trparky]

The biggest reason they made so much cash is because their crap is 100 times over priced and apparently there are a lot of really really really stupid people out there that have more money than brain power to know when they are getting their pockets fleeced by a very over greedy company.

That's revenue. How much of that went to TSMC to get the top spot on the chip fabrication line? I'd have to say probably a hell of a lot. Suffice it to say, Apple is funding TSMC's business.

 

[trparky]

OK, I got the data. According to Apple Insider, TSMC made over $22 Billion from Apple alone; up $4 Billion the year before. Suffice it to say, someone has to pay for all the R&D to keep the process node shrinks coming.

As for the rest of the revenue, it's not like Apple doesn't have other bills to pay. They have their executives to pay, the people who design their chips, real estate, and all the other various employees that they have employed.

 

[VaRmeNsI]

That seems... disproportionate, to say the least. That's 0.002 percent taxation rate. If that's fine for Apple, why isn't income tax and sales tax 0.002%?

It's only right that those voting for theft pay the most.

 

[Dd663]

I really hate my tax bracket. After state and property taxes I pay 38% of my income and I'm just under the next tax bracket that would actually drop me down to I think 17% combined. If I could make another 10k a uear I'd save like 20k on my taxes

Make more money and you'd pay less taxes? That's ridiculous. Someone needs to audit the tax brackets.

As for the rest of the revenue, it's not like Apple doesn't have other bills to pay. They have their executives to pay, the people who design their chips, real estate, and all the other various employees that they have employed.

According to the article:

a profit of $25 billion

So they're still making a healthy profit, no doubt thanks to the crazy margins on their overpriced products.

It's only right that those voting for theft pay the most.

I assume you're referring to people who vote for increased taxes?

I don't see why the taxation rate can't be constant for all income levels. That seems fair to me. Is there something I'm missing, though?

 

[Sausagemeat]

The biggest reason they made so much cash is because their crap is 100 times over priced and apparently there are a lot of really really really stupid people out there that have more money than brain power to know when they are getting their pockets fleeced by a very over greedy company.

Actually the people who make blanket misinformed assumptions about Apple tech and it’s users are the stupidest among us. I mean you have to be as dumb as a bag of rocks if you can’t grasp why some professionals buy MacBooks over a windows laptop.

Apple tech is generally objectively better than most of their competitors products. That’s why it sells so well. It’s quite straightforward really..

 

[m4a4]

Actually the people who make blanket misinformed assumptions about Apple tech and it’s users are the stupidest among us. I mean you have to be as dumb as a bag of rocks if you can’t grasp why some professionals buy MacBooks over a windows laptop.

Apple tech is generally objectively better than most of their competitors products. That’s why it sells so well. It’s quite straightforward really..

And then they always have people who'd happily pay the Apple tax justify it by defending their fashion product, right?

At least you aren't confident enough to say much more than generalities. But lets not pretend that Apple tech is engineered better (

), when we both know it's their marketing as a fashion brand that has it sell so well. While having those in their cult defend the bad decisions (along with Apple's arrogant stance on admitting fault)...

 

[VaRmeNsI]

I don't see why the taxation rate can't be constant for all income levels. That seems fair to me. Is there something I'm missing, though?

You mean the same rate for everyone regardless of income?

 

[Dd663]

You mean the same rate for everyone regardless of income?

I mean the same (hopefully relatively small) percentage of everyone's income.

 

[VaRmeNsI]

I mean the same (hopefully relatively small) percentage of everyone's income.

In order to do that you'd have to drastically reduce public expenditure, the reason why we have a progressive tax system imo at the moment is because it's easier to steal more from less people.

 

[Dd663]

In order to do that you'd have to drastically reduce public expenditure

I can't imagine that would be that hard. I doubt all of the tax money our government gets goes to worthwhile causes.

 

[VaRmeNsI]

I can't imagine that would be that hard. I doubt all of the tax money our government gets goes to worthwhile causes.

It's generally unpopular to remove government programs, hence why most politicians prefer the easier option; print more money and continue to debase the currency over time and kick the can down the road.