Published , by Donovan Erskine
Published , by Donovan Erskine
Apple (AAPL) is among the wave of major tech and entertainment companies sharing its earnings for the previous period this week. Apple (AAPL) has shared its Q3 2022 earnings report, showing that the tech company beat on both earnings-per-share and revenue expectations while setting a record for revenue in year-over-year comparisons.
Apple’s (AAPL) Q3 2022 earnings report was published to its official newsroom following the close of markets today. It’s here that we see the company earned $83 million in revenue for Q3 2022, narrowly beating out the $82.7 billion expectation. The company also brought in $1.20 per-share against the $1.16 expectation and $1.19 whisper. Apple (AAPL) leadership also shared additional details on these numbers in the report.
“This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers,” said Tim Cook, Apple’s CEO. “As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.”
Following the release of the Apple (AAPL) Q3 2022 earnings report, company stock was up as high as $158.52 on the day in after-hours trading. Apple (AAPL) stock was as low as $154.77 per-share this morning.
Apple’s Q3 2022 earnings came in just barely above expectations, but above expectations nonetheless. In the report, we also learned that the company’s revenue services grew 12 percent from 2021, and that CEO Tim Cook expects "revenue to accelerate", despite economic weakness. For more on Apple (AAPL) and the business world as it relates to the cutting edge of technology, stick with Shacknews.