Apple Earned $89.6 Billion in Revenue During Q2 of2022

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With the second quarter of fiscal2022-22 ending on March 27, Apple recently shared its quarterly revenue report. And from the looks of it, it looks like Apple had a pretty good quarter. The company’s revenue was up 54% year-over-year (YoY), and Mac and service revenue reached an all-time high during the quarter.

To showcase its financial achievements, the Cupertino giant shared a consolidated financial statement for investors and industry analysts. According to Apple’s report, the company earned a whopping $ 89.6 billion during the second quarter of2022.

Apple results for the second quarter of2022

Additionally, Apple reports that revenue from iPhones was a record for the March quarter, reaching $ 47.9 billion, representing a 66% increase over last year. This is mainly due to the high demand for the iPhone 12 series that was launched last year. In addition, the company says that the installed base of active devices also reached an all-time high in all major product categories.

Revenue from the iPad line also saw an increase of 79% YoY, reaching $ 7.8 billion. Aside from this, Apple also gained a large chunk from Mac sales as revenue increased by 70%, reaching $ 9.1 billion during the second quarter of2022. In addition, the revenue from wearable devices and accessories also experienced 25% YoY growth, with Apple Watch Series 6 and Apple Watch SE performing exceptionally well in the markets.

Service revenue also set new records for the company, as it posted 27% year-on-year growth across all geographic segments. More importantly, Apple garnered more paid subscribers for its services like Apple Music, Podcast and Apple Fitness +, totaling 660 million, during the quarter. This helped the company earn $ 145 million during the period.

“This quarter reflects both the enduring ways our products have helped our users cope with this moment in their own lives, and the optimism consumers seem to feel about better days for all of us.” Apple CEO Tim Cook said in a statement.

“Apple is in a period of radical innovation across our entire product line, and we remain focused on how we can help our teams and the communities in which we work to emerge from this pandemic into a better world. That certainly starts with products like the brand-new iMac and iPad Pro, but it extends to efforts like the 8 gigawatts of new clean energy that we’ll help bring to the grid and our $ 430 billion investment in the United States over the next few years. 5 years. , “ Cook more added.

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