The day the US economy technically went into recession, Apple announces 6.7% higher profit than a year agoand its CEO, Tim Cook, predicted a good end to the year.
The tech giant posted a net profit of $79,082 million this Thursday between October and June, up 6.7% year-on-year. In the first nine months of fiscal 2022 (Apple’s fiscal year begins in October), the Cupertino (California, USA) company entered $304,182 million, over 282,457 billed in the same nine months of the previous year. For its part, investors in the bitten apple company have pocketed $4.86 per share this time, compared to $4.42 a year ago.
Calling investors to explain the accounts, Cook said that while they saw some slackening in demand in certain locations, they generally expect revenue arrivals to accelerate in the current quarter (ending September). “Our forecast is that billing will accelerate in the quarter ended September compared to the annual result for the quarter ended June,” said the company’s CEO.
According to business divisions, iPhone phone represents $162,863 million Incomemore than half of the total bill of your company. While Apple doesn’t detail the phone models to which the bill corresponds, it’s reasonable to assume that the bulk of them came from sales of the iPhone 13, which went on sale at the end of September, just before that. The period analyzed today began. Additionally, Cook said there was “no obvious evidence” that the recession had a macroeconomic impact on iPhone sales.
Behind the iPhone are services that, although far behind, are one of the company’s biggest bets in recent years and have launched multiple subscription platforms in industries as diverse as television entertainment, video games, press, physical exercise and music. Between October and June, Apple entered $58,941 million for these subscription services; Clothing and home tech (a segment that included sales of Apple Watch watches and AirPods earphones, among others) followed with $31,591 million. For its part, Mac computers (Apple’s original product) achieved good sales results, allowing the firm to raise $28,669 million for this concept in 2021, up from over 26,012 million for the same period.
But the negative note was put by iPad tablets.whose sales fell from last year and only reached 22,118 million from contributing 23,610 million to the company’s accounts.
The Cupertino company generated more than a third of its revenues in the Americas market (including the US, Latin America and Canada), which has the largest business area for the company. Behind the Americas was the European market, closely followed by China, and further behind was Japan and the rest of the Asia-Pacific region.
Apple’s good results encouraged Wall Street investors, and the company’s shares rose 3.24% to $162.72 per share in electronic transactions after the New York markets closed.