Apple records 44% gross margin in Q1 2022
Tech giant Apple’s 2022 first fiscal quarter results are the best the firm has recorded in half a decade. According to a banklesstimes.com data presentation, Apple’s gross margin rose by 43.8% indicating an 11% jump in its previous quarter’s revenues.
The tech giant announced revenues of $123.9B for the quarter. Additionally, the firm’s net profit for the quarter rose to $34.6B as contrasted with its Q4 2021 revenues and net profits which were $111.4B and $28.8B, respectively. Apple’s first quarter, 2022 corresponds to the calendar fourth quarter, 2021.
The Company’s CEO Tim Cook has attributed the growth in profitability to the firm’s innovativeness.
Commenting on the performance, Cook applauded the company’s staff for the innovative line of products that made the feat attainable. He further noted that the performance was better than they had anticipated. He also appreciated Apple’s customers for their response to its products. Besides the record-breaking revenues, the firm also registered the best ever customer satisfaction scores of 98%. The CEO also reiterated the company’s commitment to helping build a better world y working towards attaining carbon neutrality across its ecosystem by 2030.
Apple achieved those results despite supply chain constraints, including chip shortages. It grew its active devices to 1.8 million, another record. That came with increased revenues in almost all of its product categories.
According to the company, the impressive performance was made possible mainly by the all-time revenue record that its iPhone unit set. The unit earned Apple $71.63 billion, having grown 9 percent year on year terms. Apple pins this success on its iPhone 13 model, which it says contributed 71 percent of its U.S sales. it also made impressive gains in its Mac sales. Apple’s data indicates that it made $10.85 billion from that unit’s sales. Those grew by 25 percent in year-on-year terms, bolstered by robust demand for the MacBook pro. The Mac unit also registered a record number of upgrades in the last six quarters.
The wearables, home, accessories, and Services units also registered significant gains contributing $14.7 billion and $19.5 billion in sales.
Apple’s only downward sales was recorded in its in iPad sales where there was a 14 percent year-on-year decline to stand at $7.25 billion.
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