Apple recently reported earnings for its fiscal second quarter of 2022 (which ended March 26, which is different from its usual quarter of the year) to investors. Once again, the company beat analysts’ expectations, posting huge sales and profits across most of its product lines. The only product line that saw revenue decline year-over-year was the iPad.
The second fiscal quarter of 2022 covers the months of January, February, and March of 2022. During that period, Apple had revenue of $97.3 billion, up 9% from the same period last year, and profit of $25. billion USD.
Apple puts each product in a five-year portfolio to report revenue to investors. The service catalog includes iCloud, the App Store, Apple Card, and Apple Music. Other Product Categories include both Apple Watch and AirPods, among a few other devices. The remaining categories are iPhone, Mac, and iPad.
- iPhone: $50.57 billion, up 5.5% over the same period last year
- Services: $19.82 billion, up 17.28%
- Mac: $10.43 billion, up 14.73%
- Other products: $8.82 billion, up 12.37%
- iPad: $7.65 billion, down 1.92%
In a statement to investors, CEO Tim Cook noted the user shift from Android to the Apple ecosystem was a key driver of the iPhone’s success this fiscal quarter.
Regarding the iPad, Cook said the product line faces supply constraints and that has affected sales.