Apple on Thursday reported quarterly results that were slightly ahead of Wall Street expectations despite having to grapple with both supply chain and production challenges.
Why it matters: Apple’s report comes as many of its tech peers reported weaker results, including semiconductor bellwether Intel, whose results and outlook disappointed analysts and investors.
By the numbers:
- Revenue : $83 billion (up 2 percent from a year earlier)
- Per-share earnings: $1.20 (down from $1.31 a year earlier)
- iPhone sales: $40.7 billion (up from $39.6 billion a year earlier)
- Mac revenue: $7.4 billion (down from $8.2 billion a year earlier)
- iPad revenue: $7.2 billion (down from $7.4 billion a year earlier)
- Wearables and accessories: $8.1 billion (down from $8.8 billion a year earlier)
- Services: $19.6 billion (up from $17.5 billion a year earlier)
- As for the geographic breakdown, sales in Japan and greater China were down from a year earlier, while sales increased in the Americas, Europe and the rest of Asia Pacific.
Flashback: Apple had said in April that a combination of component shortages and COVID 19-related production issues would dent quarterly revenue by $4 billion to $8 billion.
What they’re saying: “Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment,” Apple CFO Luca Maestri said in a statement.
