Apple reports record Q1 2022 revenue of $123.9 billion

It’s that time of year again. No, not a day when Apple announces new products and/or services. It’s Earnings Day, which means we get to find out just how much Apple managed to rake in over the last few months. Hint: it’s a lot.

As is par for the course with an Apple earnings report, it covers the previous three months. Which means this time around, the numbers will include the holiday shopping season, which is typically a big boon for a company like Apple. And this year’s haul is certainly no different.

On Thursday, January 27, 2022, Apple officially reported its first fiscal quarter. All told, Apple confirmed it brought in a total of $123.9 billion in revenue over the holiday shopping period. This includes the months of October until December, 2021. The company saw $34.6 billion in total profit. That equals to a 11% year-over-year increase from the first fiscal quarter of 2021.

Today’s earning report follows the one from October of last year, which saw Apple earn $83.4 billion in the fourth fiscal quarter of 2021.

From today’s announcement:

Apple today announced financial results for its fiscal 2022 first quarter ended December 25, 2021. The Company posted an all-time revenue record of $123.9 billion, up 11 percent year over year, and quarterly earnings per diluted share of $2.10.

As is par for the course, Apple’s CEO, Tim Cook, weighed in on the results:

This quarter’s record results were made possible by our most innovative lineup of products and services ever. 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.

And, of course, Apple’s CFO, Luca Maestri, also had something to say on the matter:

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.

Here’s how it all breaks down for the first fiscal quarter of 2022:

  • iPhone: $71.63 billion (a 9% YOY increase)
  • Mac: $10.85 billion (a 25% YOY increase)
  • iPad: $7.25 billion (a 14% YOY decrease)
  • Wearables, Home & Accessories: $14.70 billion (a 13% YOY increase)
  • Services: $19.52 billion (a 24% YOY increase)

Apple will host its earnings call later today, where the company might reveal a few additional key details about the business and the money it brought in as 2021 wrapped up. We’ll probably hear, yet again, that the Services division continues to rake in the cash, for instance.