Apple Post Highest Quarterly Revenue in 45 Year History

Apple has announced its biggest revenue generated in any of its quarter in its 45 year history. The technology company has revealed $123.9 billion in revenue with earnings per share of $2.10 was earned in quarter one (Q1) 2022. Sales of the iPhone 13 lineup and a continued rise of its services business were the primary drivers of the revenue figures, Apple also made $34.6 billion in profit.

The iPhone 13, 13 mini, 13 Pro, and 13 Pro Max experienced rapid sales, with the iPhone unit generating $71.63 billion (9% over the year-ago quarter).

Every division of Apple inc improved in terms of revenue except the IPad, which declined by 14% as a result of supply constraint. Apple’s Mac was up by 25 percent and services up by 24 percent.

Apple now has a market value of $2.6 trillion after topping a market cap of $3 trillion at the beginning of January 2021.

Apple stated that 1.8 billion Apple devices were in used as at two years ago, up 300 million from two years ago. Moreover, the tech company 785 million subscriptions on its platform for Apple and third-parties, up from 745 million in the last quarter.

Coinciding to Apples record breaking profit and product, Apple CEO Tim Cook revealed to The Wall Street Journal “We saw supply constraints across most of our products,”  “We’re forecasting that we will be less [constrained] in March than we were in the December quarter.”

Speaking of software, before it released earnings on Thursday, Apple rolled out new betas of iOS, iPadOS, and macOS. iOS 15.4 will allow people to unlock their iPhone with Face ID while wearing a mask, while the delayed Universal Control feature is coming to iPadOS 15.4 and macOS Monterey 12.3.