Unexpected Apple Revenue For Quarter 3 Results 2022 – AAPL

Apple (AAPL) released third-quarter results on Thursday, beating analysts’ expectations and posting a record $83 billion in revenue despite fears of rising inflation.

Here are the most important numbers from the report, compiled by Bloomberg, and how they compare to Wall Street expectations.

• Revenue: $83 billion vs. $82.7 billion forecast

• Earnings Per Share: $1.20 vs $1.16 Expected

• iPhone Revenue: $40.7 Billion vs. $38.9 Billion Expected

• iPad Revenue: $7.22 Billion vs. $6.9 Billion Expected

• Mac Revenue: $7.4 Billion vs. $8.4 Billion Projection

• Wearables Revenue: $8.1 Billion vs. $8.8 Billion Projection

• Services revenue: $19.6 billion vs. $19.7 billion forecast

After the news, Apple’s stock price jumped more than 3%.

“Our June quarter results continue to demonstrate our ability to effectively manage our business despite the challenging business environment. reached all-time highs across all geographic segments and product categories,” Apple CFO Luca Maestri said in a statement.

Despite record earnings, Apple reported that net profit fell 10.5% year-over-year.

Apple is grappling with a number of issues, including rising inflation hitting consumers and COVID lockdowns in China hitting domestic sales and production.

The company’s market capitalization has also taken a hit amid a major decline in technology, dropping below the $3 trillion market to $2.5 trillion.

But according to Morgan Stanley, this is all short-term trouble for iPhone makers. In a memo, Erik W. Woodring suggests that Apple’s services business could help push the tech giant’s market cap back into his $3 trillion market.

Services revenue was especially strong in the third quarter, jumping from $17.5 billion last year to $19.6 billion.

Also Read – How Apple is Transforming Healthcare Diagnostic Sector : Report

Apple is widely expected to launch the iPhone 14 series alongside the Apple Watch Series 8 later this fall. Also, the product will be announced a few weeks before the end of the quarter, so it should not have a significant impact on the company’s fourth quarter earnings, but should boost its first quarter 2023 results.

Apple is also said to be prepping its entry into the AR/VR space with its own headset, likely to launch in 2023.