Apple today released the company’s fiscal 2022 third-quarter results. According to the report, Apple’s third-quarter net revenue was $82.959 billion, an increase of 2% compared with $81.434 billion in the same period last year; net profit was $19.442 billion, a decrease of 11% compared with $21.744 billion in the same period last year. Among them, Apple’s third-quarter net revenue in Greater China was US$14.604 billion, compared with US$14.762 billion in the same period last year, a year-on-year decrease of 1%.
Apple’s third-quarter revenue and earnings per share exceeded Wall Street analysts’ expectations, pushing its shares up more than 3 percent after hours.
Apple’s Board of Directors has announced that it will pay a cash dividend of $0.23 per share to the company’s common stockholders, which will be paid on August 11, 2022 to shareholders of record as of the close of business on August 8, 2022.
Apple’s third-quarter revenue was $82.959 billion, with Greater China revenue down 1.1% year-on-year
Detailed performance:
In the fiscal third quarter ended June 25, 2022, Apple’s net profit was $19.442 billion, down 11% from the same period last year; diluted earnings per share were $1.20, down 8% from the same period last year. In the third quarter of fiscal 2021, Apple’s net income was $21.744 billion, or $1.30 per diluted share.
Apple’s third-quarter net revenue was $82.959 billion, up 2 percent from $81.434 billion in the same period last year.
Apple’s third-quarter revenue and earnings per share exceeded Wall Street analysts had expected. According to data provided by Yahoo Finance Channel, 29 analysts had expected Apple’s third-quarter earnings per share to reach $1.16, and 26 analysts had expected Apple’s third-quarter revenue to reach $82.81 billion.
Apple’s third-quarter operating profit was $23.076 billion, compared with $24.126 billion a year earlier.
Apple’s third-quarter gross profit was $35.885 billion, compared with $35.255 billion a year earlier.
Apple’s total operating expenses in the fiscal third quarter were $12.809 billion, compared with $11.129 billion in the same period last year. Among them, Apple’s third-quarter R&D expenditure was $6.797 billion, compared with $5.717 billion in the same period last year; sales, general affairs and administrative expenses were $6.012 billion, compared with $5.412 billion in the same period last year.
By region:
Apple’s Americas division’s net revenue in the fiscal third quarter was $37.472 billion, compared with $35.870 billion in the same period last year;
Net revenue in Europe was $19.287 billion, compared to $18.943 billion in the same period last year;
Net revenue in Greater China was $14.604 billion, compared with $14.762 billion in the same period last year, down 1% year-on-year;
Net revenue in Japan was $5.446 billion, compared to $6.464 billion in the same period last year;
Rest of Asia Pacific net revenue was $6.150 billion, compared to $5.395 billion in the same period last year.
By product:
Apple’s third-quarter net revenue from iPhones was $40.665 billion, compared with $39.570 billion a year earlier. Analysts had expected Apple’s third-quarter net revenue from iPhones to reach $38.33 billion, according to data provided by financial market data and infrastructure provider Refinitiv.
Net revenue from Mac was $7.382 billion, compared to $8.235 billion in the year-ago quarter. Analysts had expected Apple’s third-quarter net revenue from Macs to reach $8.70 billion, according to data provided by Refinitiv;
Net revenue from iPad was $7.224 billion, compared with $7.368 billion in the same period last year. According to data provided by Refinitiv, analysts had expected Apple’s third-quarter revenue from iPads to reach $6.94 billion;
Net revenue from wearables, home products and accessories was $8.084 billion, compared to $8.775 billion a year earlier. Analysts had expected Apple’s third-quarter net revenue from wearables, home products and accessories to reach $8.86 billion, according to data provided by Refinitiv.
Net revenue from services was $19.604 billion, compared to $17.486 billion in the same period last year. Analysts had expected Apple to post $19.70 billion in net revenue from services in the fiscal third quarter, according to data provided by Refinitiv.
Performance expectations:
Apple did not provide an outlook for the fourth quarter of fiscal 2022 in its earnings report.
Capital Return Plan:
Apple’s Board of Directors has announced that it will pay a cash dividend of $0.23 per share to the company’s common stockholders, which will be paid on August 11, 2022 to shareholders of record as of the close of business on August 8, 2022.
Executive comments:
“This quarter’s record results underscore Apple’s ongoing efforts to innovate, advance new possibilities and enrich the lives of our customers,” said Apple CEO Tim Cook. Consistently upholding our values and embodying them in everything we build – from new features designed to protect user privacy and security, to tools that will enhance accessibility – this is what we do for everyone part of a long-term commitment to create a product.”
“This quarter’s results continue to demonstrate our ability to effectively manage our business despite a challenging operating environment,” said Luca Maestri, Apple’s chief financial officer. Record fiscal quarter revenue and an all-time high in active equipment installations across every geographic segment and product category. During the quarter, we generated nearly $23 billion in operating cash flow, which was returned to shareholders over $28 billion and continue to invest in our long-term growth plans.”
Share price changes:
On the same day, Apple’s shares rose $0.56 in regular Nasdaq trading to close at $157.35, or 0.36%.
In subsequent after-hours trading as of 5:21 p.m. ET Thursday (5:21 a.m. Beijing time on Friday), Apple’s shares rose again by $5.64, or 3.58%, to $162.99. Over the past 52 weeks, Apple’s highest price was $182.94 and its lowest price was $129.04.