Apple has reported a total of $1.5 billion in revenue so far this year, beating expectations

Apple has reported a total of $1.5 billion in revenue so far this year, beating expectations ...

Apple''s second fiscal quarter of 2022 has just announced financial results, which covers the months of January, February, and March. With significant increases in revenue and profit across most of its products, the Cupertino company has surpassed analyst predictions.

Apple reported 977.3 billion in revenue, a nine-fold increase year over year, and a profit of $25 billion, totaling $1.52 billion in earnings per share.

Apple does not report unit sales for its products, implying a breakdown of revenue by category instead. iPhones continue to be the company''s biggest earners, totaling $50.6 billion in revenue in Q2, with Apple $10.4 billion (up 14.3 percent YoY), while wearables increased $8.8 billion (up 12.2 percent YoY).

The services category has surpassed an all-time revenue record of $19.8 billion, up 17.2 percent YoY. However, iPad revenues were down 2.2 percent YoY, at just $7.6 billion. Apple CEO Tim Cook blamed the repercussions of its tablet business on significant supply constraints during the quarter.

Apple''s services category includes the App Store, iCloud, Apple Music, and Apple TV+. In the post-Covid era, it''ll be interesting to see if the company can continue to gain momentum in this area.

Apple refused to provide a forecast for the current quarter, citing further uncertainty as the epidemic. However, CFO Luca Maestri warned that supply limitations could cut sales by up to $8 billion this quarter.

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