Apple revenue jumps 2% in June-quarter as Mac sales drop

Apple has posted sales of $82.959 billion (+2 percent) and net income of $19.442 billion during the April-June quarter of 2022.
Apple iphone 12 5G smartphone in SingaporeApple has generated sales of $40.66 billion from iPhone, $7.38 billion from Mac, $7.22 billion from iPad, $8.08 billion from Wearables, Home and Accessories and $19.60 billion from Services during its third quarter.

Apple revealed that iPhone sales did not grow significantly. Apple had clocked $39.57 billion from iPhones in June quarter of 2021.

Apple lost business in Mac business as well. Apple Mac business had generated $8.235 billion during the June quarter of 2021.

Apple has also lost business in iPad business. Apple iPad sales were $7.368 billion during the June quarter of 2021.

Apple felt the heat in the wearables business too. Apple had generated $8.775 billion during the first quarter of 2021.

Apple has a smartphone share of 15.6 percent during the June quarter by shipping 44.6 million iPhones, according to IDC.

Apple has a smartphone share of 17 percent during the June quarter by shipping 49.5 million iPhones, according to Canalys.

Apple has revealed that its sales touched $37.472 billion in Americas, $19.287 billion in Europe, $14.604 billion in China, $5.446 billion in Japan and $6.150 billion in Rest of Asia Pacific including India.

Apple has seen a new doubling of its revenues in India in the April-June period, setting a new all-time record in the country particularly riding on its iPhone 13 series.

Apple CEO Tim Cook, speaking to analysts after posting a record June quarter, said that the quarter recorded record revenue in developed and emerging markets with double-digit growth in Brazil, Indonesia and Vietnam, and a new doubling of revenue in India.

Tim Cook said “that the company continues to execute across some significant geographies with low penetration of iPhones between Indonesia, Vietnam and India where we did quite well.”

“iPhone tends to be the engine for those markets, particularly at the beginning of creating the market there for Apple products.”

Apple said parts shortages are easing and that demand for iPhones is unceasing despite consumers tightening other spending.

Apple Chief Financial Officer Luca Maestri told Reuters there had been no slowdown in demand for iPhones, the company’s biggest source of revenue.

Apple said iPhone sales in the fiscal third quarter rose 3 percent to $40.7 billion. By contrast, the overall global smartphone market dropped 9 percent during the just-ended quarter, according to Canalys data.

Apple’s loyal and relatively affluent customer base has enabled it to weather consumer spending dips better than other brands in the past, and the company’s latest quarterly results suggest a similar pattern emerging.

Parts shortages will continue to hamper Mac and iPad sales, Apple CFO Maestri said, though the impact has been easing. They cost Apple under $4 billion in sales in the quarter ended June 25, less than it had forecast. Maestri said the company expects the hit to diminish further in the current quarter.

Apple said it now has 860 million paying subscribers to its services, up from the previous quarter’s 825 million.

Strategy Analytics said Apple shipped 48 million (+3 percent) iPhones worldwide, registering 16 percent global marketshare in Q2 2022.

“This is the highest second quarter market share for Apple over the past ten years, at the expense of leading Chinese brands who are hampered by the sluggish performance in both home and overseas market. Apple had a good quarter, led by iPhone 13 series which continued to ramp up volumes in US, China and other key markets,” Woody Oh, Director at Strategy Analytics, said.