Yesterday Apple reported its second financial quarter results. The company made a record profit.In the second quarter, which ended on March 26, the US IT giant boosted its revenue to $97.3bn, up almost 9% on a year ago and well above analysts' average forecast of $94bn.The company also raised its dividend by 5%, to $0.23 per share. The board decided to approve a $90bn buyback of additional shares.Thus, last quarter's earnings were $1.52 per share, 10 cents above the Wall Street consensus forecast of $1.42 per share.The reporting period was a success for Apple, largely due to its flagship iPhone business. Sales of the smartphones amounted to $50.6 billion.The figure climbed 5.5% and was thus well above the average expert estimate of $48.4 billion. This is an impressive result amid widespread component shortages, which have hampered the growth of many other companies in the mobile phone market.Sales of Apple computers and notebooks also increased. The difference from the previous figure was more than 14%. The company sold $10.4 billion worth of Mac gadgets, compared to Wall Street's forecast of barely more than $9 billion.Revenues from iPad tablets fell 2% to $7.6bn in the second quarter. However, this was higher than analysts' estimates, which anticipated a drop to $7.2bn.Sales of accessories (AirPods headphones and Apple Watch) brought in $8.8 billion, up 12.4% on the same period last year.There was also a significant increase in demand for Apple's services in the second quarter. Revenues rose more than 17% to $19.8 billionDuring the reporting period, the company managed to increase its audience to 825 million subscribers to various services. This is 165 million more than a year ago. The growth was mainly due to the loss of subscribers from competitor Netflix.Despite the latest glowing report, Apple's management is not currently making any plans for the next quarter. On the contrary, the company's CFO Luca Maestri has warned of a possible decline in sales in the near term.He noted that the military conflict in Ukraine had already led to a halt in sales of Apple electronics in Russia. Its further escalation will contribute to an even greater negative dynamic amid the disruption to global supply chains.Maestri estimates that disruptions to logistics processes, including those caused by the ongoing lockdown in China, could reduce sales by $4-8bn in the third fiscal quarter.
FX.co ★ Apple posts record earnings with $97 billion revenue
Apple posts record earnings with $97 billion revenue
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