AAPL Earnings

[Picheshwar]

Apple posts big beat and 9% revenue pop, authorizes $90 billion buyback

PUBLISHED THU, APR 28 20223:39 PM EDTUPDATED MOMENTS AGO

[Picheshwar]

Apple’s revenue grew nearly 9% on an annual basis in the quarter ending in March, the company said on Thursday, showing strong growth and bucking investor worries about a deteriorating macroeconomic environment affecting demand for high-end smartphones and computers. 

Apple stock rose over 2% in extended trading.  

 

Here’s how Apple did versus Refinitiv consensus estimates:  

• EPS: $1.52 vs. $1.43 estimated 
• Revenue: $97.28 billion vs. $93.89 billion estimated, up 8.59% year-over-year 
• iPhone revenue: $50.57 billion vs. $47.88 billion estimated, up 5.5% year-over-year 
• Services revenue: $19.82 billion vs. $19.72 billion estimated, up 17.28% year-over-tear 
• Other Products revenue: $8.81 billion vs. $9.05 billion estimated, up 12.37% year-over-year 
• Mac revenue: $10.44 billion vs. $9.25 billion estimated, up 14.73% year-over-year 
• iPad revenue: $7.65 billion vs. $7.14 billion estimated, down 1.92% year-over-year 
• Gross margin: 43.7% vs. 43.1% estimated 

Apple did not provide a forecast for the current quarter. Apple hasn’t provided official revenue guidance since February 2020, citing uncertainty from the Covid-19 pandemic.  

Apple said that its board of directors authorized $90 billion in share buybacks, maintaining its pace as the public company that spends the most buying its own shares. Apple spent $88.3 billion on buybacks in 2021, according to S&P Dow Jones Indices.  

Apple increased its dividend by 5% to $0.23 per share. 

Apple’s iPhone business grew over 5% during the quarter, adding more evidence that the current iPhone 13 model is selling well.  

 

Apple CEO Tim Cook said that the iPhone business had a successful quarter with “switchers,” or people who previously had an Android phone but decided to buy an iPhone.  

[Picheshwar]

• Apple Inc. posted one of its best quarters in its 46-year history as iPhone sales exceeded expectations.

[signout]

3 minutes ago, Picheshwar said:

• Apple Inc. posted one of its best quarters in its 46-year history as iPhone sales exceeded expectations.

 

 

 

 

 

 

[Picheshwar]

15 minutes ago, signout said:

 

 

 

 

 

 

Increased dividend by 5%

[anna_gari_maata]

Trend reversed market to assam

[chandrabhai7]

1 hour ago, Picheshwar said:

Increased dividend by 5%

Assam

[Picheshwar]

2 minutes ago, chandrabhai7 said:

Assam

Wait for few days

[AndhraneedSCS]

2 hours ago, Picheshwar said:

• Apple Inc. posted one of its best quarters in its 46-year history as iPhone sales exceeded expectations.

December quarter will be much bigger kada.