Source: Apple
What you need to know
- Apple shares are up almost 5% ahead of Friday's markets opening.
- The company announced its Q1 earnings on Thursday, January 27.
- It saw an all-time revenue record of almost $124 billion.
Apple's share price has risen by almost 5% in pre-market trading following the company's Q1 earnings call Thursday.
Apple announced a new all-time quarterly revenue record of nearly $124 billion on January 27. From the announcement:
Apple today announced financial results for its fiscal 2022 first quarter ended December 25, 2021. The Company posted an all-time revenue record of $123.9 billion, up 11 percent year over year, and quarterly earnings per diluted share of $2.10.
CEO Tim Cook said the results were made possible by Apple's "most innovative lineup of products and services ever" and that the company was grateful for the response it had seen from its customers around the world.
During the course of its earnings, Apple announced that it now commands an install base of more than 1.8 billion devices and that it added 165 million paid subscribers to its services last year.
Apple says it saw revenue growth across every product and service line it has except iPad. Due to supply constraints, Apple revealed that iPad revenue had fallen by 14% year on year despite exciting new devices like the iPad mini 6, one of the company's best iPads in recent memory.
Apple also revealed that the company posted a record $11 billion in Mac revenue thanks to the success of Apple silicon and the new MacBook Pro (2021) powered by Apple's M1 Pro and M1 Max processors. Apple said its momentum was "impressive" and that the six previous quarters have all been the best six quarters ever for Mac.
Buoyed by this strong showing, AAPL sits at +4.44% in pre-market at the time of publication but has climbed to as high as $4.7% in the course of this morning.
Gorgeous new Pride Apple Watch bands are now available at some Apple Stores
Apple's latest Pride Apple Watch bands are now available to buy in some Apple Stores, although whether you can walk into a store and pick one up yourself will very much depend on where you happen to be.
Rare Steve Jobs check for $9.18 goes under the hammer, could fetch $25k
A rare check signed by Steve Jobs dated July 23, 1976, has just gone up for auction and could be worth a lot more than it was originally written out for...
Apple store workers get surprise pay rise as union pressure grows
Apple plans to give U.S. workers a pay rise in the face of growing pressure from unions that are emerging in some retail locations.
These accessories will go great with your Apple AirTags
Apple's AirTag doesn't have any hooks or adhesive for attaching to your precious items. Luckily there are plenty of accessories for that purpose, both from Apple and third parties.