Apple Posts $83 Billion in Q3 2022 Revenue Amid Mixed Product Sales
Apple generates $83 billion in revenue and $19.4 billion in profit for the third fiscal quarter of 2022. While iPhone and Services categories hit record highs, Mac and Wearables experience slight declines.
Apple announces its financial results for the third fiscal quarter of 2022, reporting $83 billion in revenue and a net profit of $19.4 billion. These figures show a slight increase in overall revenue compared to the $81.4 billion generated in the year-ago quarter, even though net profit drops from $21.7 billion. The company maintains a gross margin of 43.3 percent and declares a quarterly dividend of $0.23 per share.
The quarterly results reveal a mixed performance across Apple's major product categories. iPhone revenue reaches $40.6 billion and Services revenue climbs to $19.6 billion, with both segments achieving new June quarter records. In contrast, Mac revenue falls to $7.3 billion, Wearables, Home, and Accessories drops to $8.0 billion, and iPad revenue sees a slight decline to $7.2 billion.
Apple CEO Tim Cook attributes the record-breaking quarterly results to the company's continuous innovation and dedication to enriching customers' lives. Despite the strong earnings report causing Apple shares to rise more than 3 percent in after-hours trading, the company continues its over-two-year tradition of not issuing financial guidance for the upcoming quarter.