Published , by TJ Denzer
Published , by TJ Denzer
When it comes to the technology field, Apple is still one of the most dominant forces in the world. It’s latest quarterly reporting suggests that’s not changing anytime soon either. The company just released its Q2 2022 earnings results and came away with a huge beat against expected revenue. Meanwhile, its earnings-per-share (EPS) beat Wall Street expectations, but fell just shy of whisper numbers.
Apple reported its Q2 2022 earnings results in a press release on its investor relations website on April 28, 2022. The big story was the company’s revenue. Apple put up $97.3 billion USD in Q2 2022. That was against a Wall Street expectation of $94.03 billion, a massive win. Meanwhile, Apple’s EPS wasn’t so bad either. The company hit a total of $1.52 per share on its EPS versus Wall Street expectations of $1.43. It’s worth noting, however, that Apple didn’t beat whisper number expectations that were set at $1.57 per share. Even so, Apple had a major quarter and prime contributors to that were its Phone line that put up $50 billion and Mac line that put up another $10 billion.
The total categorical sales by product for the Apple company in Q2 2022 were as follows:
Despite this success, not everything was sunshine and rainbows for Apple. The iPad line was actually down in revenue year-over-year. Moreover, during the accompanying conference call for Apple’s Q2 2022 earnings results, CEO Tim Cook would go on to share that the company is expected to facing a staggering loss of $4 billion to $8 billion USD due to supply constraints caused by COVID affecting factory shutdowns in China. This caused the stock to take a dive after edging upwards after the earnings results, as seen on Yahoo Finance.
There’s no doubt that Apple had an impressive Q2 2022. However, if Tim Cook is to be believed, the company could be in for a choppy Q3. Stay tuned as we continue to report on various tech company quarterly results.