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Apple Posts Quarterly Revs & Earnings Beat Despite Inflation Fears & Lockdowns – $AAPL $DIA

By John F. Heerdink, Jr.

Reportedly, Apple (AAPL) beat its Q3 earnings estimates reporting revenue of $83 billion despite fears of rising inflation. The iPhone maker is contending with a number of problems including rising inflation hitting consumers and COVID lockdowns in China hitting sales and production in the country.

“Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment. We set a June quarter revenue record and our installed base of active devices reached an all-time high in every geographic segment and product category,” stated Apple CFO Luca Maestri.

Some Key Figures From The Quarter:

  • Revenue of $83 billion was reported versus $82.7 billion expected.

  • Earnings per share stood at $1.20 beating estimates marginally at $1.16.

  • iPhone recorded revenue of $40.7 billion versus the $38.9 billion expected.

  • iPad generated revenue of $7.22 billion versus the $6.9 billion expected.

  • Mac revenue missed estimates and stood at $7.4 billion.

  • Wearables revenue was $8.1 billion versus the $8.8 billion expected.

  • Services revenue missed estimates at $19.6 billion versus the $19.7 billion expected.

Additionally, Apple is preparing to enter the AR/VR space with its own headset that will likely launch sometime in 2023, which would serve as the next major product for the company and open up broader opportunities for services and content sales.

Dow 30 component Apple (AAPL) has revolutionized personal technology with the introduction of the Macintosh in 1984. Today Apple leads the world in innovation with iPhone, iPad, Mac, Apple Watch, and Apple TV. Apple’s four software platforms — iOS, macOS, watchOS, and tvOS — provide seamless experiences across all Apple devices and empower people with breakthrough services including the App Store, Apple Music, Apple Pay, and iCloud. Apple’s more than 100,000 employees are dedicated to making the best products on earth, and to “leaving the world better than they found it. To learn more about Apple (AAPL) and track its ongoing progress at Vista Partners Apple (AAPL), Coverage Page.

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(Read Original Story: Apple reports record revenue of $83B amid high inflation in Yahoo Finance)


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