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Apple posts Q2 earnings and delivers a monster quarter with $97 billion in revenue

The Apple logo in black with an array of colors behind it

With earnings season in full swing, Apple this afternoon posted its Q2 earnings report and the results are impressive all around. For the quarter ending in March, Apple posted $97.28 billion in revenue while earnings checked in at $1.52 per share. As a point of contrast, Apple during the same year-ago posted revenue of $89.6 billion and earnings of $1.40 per share. After taking expenses into account, Apple’s quarterly profit came in at $25 billion.

Ahead of Apple’s earnings report, analysts were anticipating revenue in the $94 billion range. Meanwhile, analysts were anticipating earnings for the quarter to check in at $1.42 a share. Suffice it to say, Apple delivered yet another record-breaking quarter.

A closer look at Apple’s April 2022 earnings report

Apple doesn’t release quarterly iPhone sales figures anymore. However, we can glean information from how much revenue the company’s iconic smartphone brings in. For the March quarter, the iPhone generated $50.5 billion in revenue. During the same quarter last year, the iPhone accounted for $47.94 billion in revenue.

Across Apple’s other product lines, the Mac and iPad brought in $10.4 billion and $7.6 billion in revenue, respectively. During the March quarter of last year, Mac and iPad revenue checked in at 9.1 billion and 7.8 billion, respectively. Note that Mac sales continue to increase in light of Apple’s revamped product lineup featuring the company’s line of M-x processors.

Services revenue, meanwhile, jumped from $16.9 billion to $19.8 billion year-over-year. And lastly, Apple’s Wearables, Home, and Accessories division — which includes the Apple Watch and AirPods — generated $8.8 billion in revenue compared to $7.8 billion during the same quarter a year ago.

Notably, net sales jumped in nearly all of Apple’s geographic regions. The only areas that saw a slight decrease in sales were Japan and the rest of the Asia Pacific.

Commenting on the quarter, Apple CFO Luca Maestri noted that it was a record March quarter for the company.

“We set an all-time revenue record for Services and March quarter revenue records for iPhone, Mac, and Wearables, Home and Accessories,” Maestri said. “Continued strong customer demand for our products helped us achieve an all-time high for our installed base of active devices.”

“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,” Apple’s Tim Cook said in a press release. “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.”

In the wake of the impressive earnings report, Apple announced a dividend hike of 5%. Apple also announced a $90 billion increase to its share repurchase program.

Shares of Apple are up 2% in after-hours trading.

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Yoni Heisler has been writing about Apple and the tech industry at large for over 15 years. A life long Mac user and Apple expert, his writing has appeared in Edible Apple, Network World, MacLife, Macworld UK, and TUAW. When not analyzing the latest happenings with Apple, Yoni enjoys catching Improv shows in Chicago, playing soccer, and cultivating new TV show addictions.