The ups and downs of Apple’s revenue, earnings per share, iPhone sales, services and wearables.
Apple posted solid March quarter results, beating Street estimates nearly across the board with record March quarter revenues of $97.3 billion, up 8.6% year over year, and EPS of $1.52, also up 8.6%. The stock, which closed up more than 4.5% Thursday, popped another 4% in after-hours trading before falling into the red during the earnings call. Traders and their algos were reportedly freaked out by management's warning that the headwinds from COVID shutdowns and silicon shortages in the "Shanghai corridor" would be stronger in Q3 than they were in Q2 -- setting quarterly revenues back somewhere between $4 and $8 billion.
From the press release:
“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” said Tim Cook, Apple’s CEO. “We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind.”
“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. Continued strong customer demand for our products helped us achieve an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “Our strong operating performance generated over $28 billion in operating cash flow, and allowed us to return nearly $27 billion to our shareholders during the quarter.”
Apple’s board of directors has declared a cash dividend of $0.23 per share of the Company’s common stock, an increase of 5 percent. The dividend is payable on May 12, 2022 to shareholders of record as of the close of business on May 9, 2022. The board of directors has also authorized an increase of $90 billion to the existing share repurchase program.
Below: The five charts. Click the second column to see year-over-year growth. (Not seeing the charts? Try the website.)