Apple Breaks March Quarter Records With $97.3 Billion in Revenue
Apple reports record-breaking revenue of $97.3 billion and a profit of $25.0 billion for the second fiscal quarter of 2022. The tech giant also increases its dividend and authorizes a massive $90 billion stock buyback program.
Apple announces record-breaking financial results for its second fiscal quarter of 2022, generating $97.3 billion in revenue and $25.0 billion in net profit. This performance represents a significant increase over the year-ago quarter and marks the best March quarter in the company's history. Apple also achieves all-time revenue records for its Services category, alongside March quarter records for the iPhone, Mac, and Wearables divisions.
Beyond the impressive sales figures, Apple rewards its shareholders by raising its quarterly dividend to $0.23 per share. The company additionally authorizes a massive $90 billion increase to its stock buyback program. In response to these strong financial results, Apple's stock surges nearly 2% in after-hours trading following a 4.5% gain during regular market hours.
CEO Tim Cook attributes this quarter's success to the company's relentless focus on innovation and strong customer response to new products. Despite the positive momentum and record-setting numbers, Apple continues its recent trend of not issuing financial guidance for the upcoming quarter. Cook also highlights the company's ongoing commitment to becoming completely carbon neutral across its entire supply chain and product lines by the year 2030.