The technology giant increased sales of the iPhone, surpassing analysts’ expectations. But both Mac and iPad sales were weaker than last year.
Updated less than 30 minutes ago
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The total revenues were expected to end up at 82.76 billion dollars in the quarter, while the result per share was expected at 1.16 dollars, according to Bloomberg.
An always important indicator in Apple’s results is how things are going with the sale of the iPhone, which contributes more than half of the product revenue. Analysts had previously expected iPhone sales to end at $38.85 billion. In comparison, sales were 39.57 billion last year.
There were many questions before the release of the figures. Recession fears, inflation, a strong dollar and the supply crisis could all be factors that played into the accounts.
Apple has deviating financial years, and ends the 2022 financial year as early as September. Last quarter is thus the company’s third quarter, but still applies to the period from April to June.
– Expect increased turnover
Just after the quarterly report, the Apple share rose by 2.5 per cent in after-market trading.
The technology giant has fallen 13 percent on Wall Street so far this year. It is significantly lower than the technology-heavy Nasdaq, which by comparison is down more than 22 percent.
Apple was expected to predict a further increase in sales to 90 billion dollars, but the company ended up not giving any estimate of further growth.
– Regarding future prospects, we expect turnover to accelerate, despite some weaker areas, the Apple boss said shortly after the quarterly report came out, according to CNBC.
Strong dollar hits sales
Sales of Apple’s computers were lower than analysts had thought, and fell back by ten percent from the same quarter last year.
– The lower sales of Mac were due to supply constraints and the strong dollar, said the Apple boss after the release of the figures.
Sales of iPads also fell compared to the second quarter of last year, ending with a fall of two percent. The Apple boss also blamed the limited supply of data chips and the strong dollar exchange rate here.
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