Apple revenue jumps 9% to $97.3 bn thanks to iPhone sales

Apple revenue rose 9 percent to $97.3 billion with a profit of $25 billion for its fiscal 2022 second quarter ended March 26, 2022.
Apple iphone 12 5G smartphone in SingaporeApple has generated first quarter revenue of $50.570 billion (+5.5 percent) from iPhone, $10.435 billion (+14.7 percent) from Mac, $7.646 billion (–2 percent) from iPad, $8.806 billion (+12 percent) from Wearables, Home and Accessories and $19.821 billion (+17 percent) from Services.

Apple has generated first quarter revenue of $40.882 billion from Americas, $23.287 billion from Europe, $18.343 billion from China, $7.724 billion from Japan and $7.042 billion from Rest of Asia Pacific including India.

“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,” said Tim Cook, Apple’s CEO. “We are delighted to see the strong customer response to our new products.”

The Silicon Valley-based iPhone maker, which is the world’s largest company by market capitalization, is aiming to maintain high demand for the iPhone and other hardware while growing sales from services, including music and video subscriptions.

Apple said it now has 825 million paying subscribers across its at least seven subscription offerings, up by 40 million from 785 million last quarter. Its growth comes as rivals such as Netflix report subscriber losses.

Labor unrest could newly affect Apple, too. More than 70 percent of the over 100 eligible workers at an Apple store in Atlanta last week backed a filing for an election to become the company’s first U.S. shop to unionize.