Apple posted another record fiscal Q3, with revenue of $82.9 billion in the period from 27 March to 25 June despite headwinds including conflict in Ukraine, supply chain constraints in China and foreign exchange rate issues.
CEO Tim Cook (pictured) stated on the company’s fiscal Q3 2022 earnings call the revenue bested Apple’s expectations. The sum was up 2 per cent year-on-year, but net income fell 10.6 per cent to $19.4 billion.
Cook touted the success of its iPhone 13 as its smartphone sales grew 3 per cent to a record $40.7 billion.
CFO Luca Maestri stated Apple also set a record for the number of users which switched to iPhones in the quarter.
Smartphones accounted for 49 per cent of the company’s total sales. Cook stated with 5G penetration still low globally there was reason to be optimistic about the future growth of compatible models.
Services revenue, which includes the App Store; AppleCare; iCloud; Apple Pay; Apple Music; Apple TV+; and Apple Arcade, was up 12 per cent to $19.6 billion.
Mac computer sales decreased 10 per cent to $7.3 billion and iPad 2 per cent to $7.2 billion.