Apple closed the third fiscal quarter of 2022 with new record sales of almost $83 billion. The company had expected greater bottlenecks in the supply chains, with the Mac, iPad and wearables being particularly affected. Apple's net income fell 10 percent in the third quarter.
Apple's revenue growth for the third quarter of 2022 is 1.87 percent from $81.434 billion to $82.959 billion. From a regional perspective, business was better than in the previous year, especially in America (+ 4.47%), Europe (+ 1.82%) and Asia-Pacific (+ 13.99%). Apple posted declines in China (-1.07%) and Japan (-15.75%).
Apple: Sales and Profits since Q1/2000 -1.00023.98948.97873.96798.956123.945Million US Dollars Q1/2000Q4/20001Q2/2002Q1/2003Q3/2004Q2/2006Q1/20077Q2/2007Q1/2009Q3/2010Q1/2014Q1/2015Q3/2016Q1/2018Q4/2018Q3/2019Q2/2020Q1/2021Q4/2021Q3/2022
- Revenue (10-K)
- Net Profit (10-K)
- Sales (10-Q)
- Net Profit (10-Q)
Mac is struggling with bottlenecks
In terms of the company's individual divisions, the iPhone remains stable with sales up 2.77 percent to $40.665 billion. The Mac, on the other hand, was in decline, which Apple justified with bottlenecks in the supply chains. Mac revenue fell 12.28 percent from $8.235 billion to $7.382 billion. Tim Cook explained in an interview with analysts that Apple lost a primary source for the Mac with the Shanghai lockdown, which initially could no longer be produced or only in small quantities.
iPad also affected
Apple also justified the decline in the iPad with impaired supply chains. Tablet revenue fell nearly 2 percent from $7.368 billion to $7.224 billion. The “Wearables, Home and Accessories” division, which includes the Apple Watch, AirPods, HomePod, Apple TV and all accessories, also had to contend with restrictions. Revenue decreased 7.87 percent from $8.775 billion to $8.084 billion.
860 million paying subscribers
The losses in the other divisions are offset, among other things, by a strong business with services, where Apple can show over 860 million paying customers across all services, according to CFO Luca Maestri. The division grew 12.11 percent from $17.486 to $19.604 billion. The Services division ensures constant sales that are not dependent on the usual product cycles and the associated ups and downs of the other divisions. Although business increased sharply compared to the third quarter of 2021, sales in the last quarter were slightly higher, so that there is a slight kink in the chart for the first time in a long time.
Apple-sales according to segment 020,000,40,00080,000 million US dollar Q1/2002Q1/2003Q1/2004Q3/2005Q3/2006Q3/2007Q1/2007/2008Q1/2009Q1/2010Q1 /2011Q3/2011/2012Q3/2013Q3/2014Q3/2014Q1/2015Q1/2016/6Q1/2015Q1/2017Q1/2018Q3/2019Q1/2019Q1/2020Q1/2021Q1/2021Q1/2022
- iPod
- Mac
- iPad
- iPhone
- Services
- Wearables, Home and Accessories
- Other Products
Apple's profit falls 10.6 percent
Apple's gross margin was 43.26 percent in the third quarter, close to the prior-year level (43.29%), the slight difference was caused by higher production costs and costs for running the services. Apple also increased spending on research and development (+18.89%) and sales and administration (+11.09%). The company's net income decreased 10.59 percent from $21.744 billion to $19.442 billion in the third quarter of 2022.