News: Apple Reports Q1 Results

Apple announced financial results for its fiscal 2022 first quarter ended December 25, 2021. The Company posted an all-time revenue record of $123.9 billion, up 11 percent year over year, and quarterly earnings per diluted share of $2.10.

Need a refresher how last quarter went? Besides the specific numbers for those keeping score at home, Apple has been avoided providing guidance since 2020. They did offer a few remarks:

“This quarter’s record results were made possible by our most innovative lineup of products and services ever,” said Tim Cook, Apple’s CEO. “We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”

“The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “These record operating results allowed us to return nearly $27 billion to our shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”

Apple’s board of directors has declared a cash dividend of $0.22 per share of the Company’s common stock. The dividend is payable on February 10, 2022 to shareholders of record as of the close of business on February 7, 2022.

Apple will provide live streaming of its Q1 2022 financial results conference call beginning at 2:00 p.m. PT on January 27, 2022 at www.apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.