Apple records $123.9 billion revenue in first quarter results


• CEO Tim Cook said the result was thanks to an innovative lineup of products and services

Apple has reported a record rise in revenue of $123.9 billion for the company’s fiscal 2022 first quarter.

The all-time high result soared up to 11% year over year, and quarterly earnings per diluted share of $2.10.

Apple CEO Tim Cook said: “This quarter’s record results were made possible by our most innovative lineup of products and services ever.”

Some of the products launched over the past year include the iPhone 13 (Pro and Pro Max), Mac, Wearables such as the Apple Watch, iPad Pro and Apple TV+ streaming service.

“We are gratified to see the response from customers around the world at a time when staying connected has never been more important,” Cook continued.

“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,” he added.

Luca Maestri, Apple CFO, said: “The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices.”

“These record operating results allowed us to return nearly $27 billion to our shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time,” he added.

Last year, Apple announced a slew of new products to the brand at their virtual event.

Among them was the AirTag, a small accessory that helps keep track of and find the items they are attached to with Apple’s Find My app. 

The tech giant also introduced an all-new iMac featuring a more compact and thin design, enabled by the M1 chip and powerful performance in a design that’s just 11.5 millimetres thin, with a side profile that practically disappears.

Available in an array of vibrant colours which varies according to price, iMac features a 24-inch 4.5K Retina display with 11.3 million pixels, 500 nits of brightness, and over a billion colours.

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