What you need to know
- Apple has reported another record-breaking quarter.
- The company posted a revenue record of $97.3 billion in the March quarter.
Apple has reported another record quarter.
In a press release, the company announced that it has released its financial results for the second fiscal quarter ending on March 26, 2022. Apple says that it has posted a new revenue record for its March quarter, reaching $97.3 billion and a growth of nine percent year over year.
Apple CEO Tim Cook said that this quarter's results are a "testament to Apple's relentless focus on innovation and our ability to create the best products and services in the world."
"This quarter's record results are a testament to Apple's relentless focus on innovation and our ability to create the best products and services in the world. We are delighted to see the strong customer response to our new products, as well as the progress we're making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind."
Apple CFO Luca Maestri pointed out that the company also set another all-time revenue record for its services business.
"We are very pleased with our record business results for the March quarter, as we set an all-time revenue record for Services and March quarter revenue records for iPhone, Mac, and Wearables, Home and Accessories. Continued strong customer demand for our products helped us achieve an all-time high for our installed base of active devices. Our strong operating performance generated over $28 billion in operating cash flow, and allowed us to return nearly $27 billion to our shareholders during the quarter."
Tim Cook and Luca Maestri are expected to lead the earnings call with investors that is expected to occur today at 5:00 PM EST.
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