Apple revenue growth
Last Thursday, Apple announced its financial results for the second quarter ended March 26, 2022. Revenue was up approximately 9% year over year and gross profit was at $1.52 per share price. Consumers saw a substantial share worth for the technology giant.
The official statement
“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the world’s best products and services,” said Tim Cook, Apple CEO.”We are content to see the strong customer response to our new products, as well as the progress we are making to make the company carbon neutral across our entire supply chain and products by 2030. We are committed, as always, to being a force for good in the world – both in what we create and what we leave behind”.”We are very pleased with record results for the March quarter, as we set all-time revenue records for services and record March quarter revenue records for iPhone, Mac and Wearables and home and accessories. Continued strong customer demand for our products helped us achieve an all-time high for our installed base of active devices,” said Luca Maestri, Apple CFO.”Our strong operating performance generated over $28 billion in operating cash flow and enabled us to return nearly $27 billion to our shareholders during the quarter”.
The estimations
Apple just announced that it will pay its shareholders a dividend of $0.23 for every share held on Monday May 9, 2022. The board of directors has also approved a $90 billion increase in the existing share purchase program. Apple released its forecasts for bigger production problems due to the COVID-19 lockdowns and lower demand in China. While the war in Ukraine is reducing sales, with growth also slowing in the services sector. Executives at Bank of America estimated a 2% drop in their profit margins during a briefing on digital trends.
After reading about the Apple revenue growth, no wonder consumers have such high expectations. You can visit the official website of the technology giant to get a glimpse on the company’s products by following the link, https://www.apple.com/ .
Author: PC-GR
The World of Technology
