Apple Inc (AAPL) 10-Q Quarterly Report April 2022

® today announced financial results for its fiscal 2022 second quarter ended March 26, 2022. The Company posted a March quarter revenue record of $97.3 billion, up 9 percent year over year, and quarterly earnings per diluted share of $1.52.

“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” said Tim Cook, Apple’s CEO. “We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind.”

“We are very pleased with our record business results for the March quarter, as we set an all-time revenue record for Services and March quarter revenue records for iPhone, Mac, and Wearables, Home and Accessories. Continued strong customer demand for our products helped us achieve an all-time high for our installed base of active devices,” said Luca Maestri, Apple’s CFO. “Our strong operating performance generated over $28 billion in operating cash flow, and allowed us to return nearly $27 billion to our shareholders during the quarter.”

Apple’s board of directors has declared a cash dividend of $0.23 per share of the Company’s common stock, an increase of 5 percent. The dividend is payable on May 12, 2022 to shareholders of record as of the close of business on May 9, 2022. The board of directors has also authorized an increase of $90 billion to the existing share repurchase program.

Apple will provide live streaming of its Q2 2022 financial results conference call beginning at 2:00 p.m. PT on April 28, 2022 at apple.com/investor/earnings-call. This webcast will be available for replay for approximately two weeks thereafter.

Apple periodically provides information for investors on its corporate website, apple.com, and its investor relations website, investor.apple.com. This includes press releases and other information about financial performance, reports filed or furnished with the SEC, information on corporate governance, and details related to its annual meeting of shareholders.

The following information was filed by Apple Inc (AAPL) on Thursday, April 28, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Apple Inc's 10-Q Quarterly Report:

Financial - Earnings Highlight
Gross Margin Products and Services gross margin and gross margin percentage for the three- and six-month periods ended March 26, 2022 and March 27, 2021 were as follows (dollars in millions): Products Gross Margin Products gross margin increased during the second quarter of 2022 compared to the second quarter of 2021 due primarily to higher Products volume.

Financial - Earnings Highlight
Year-over-year Products gross margin increased during the first six months of 2022 due primarily to a different Products mix and higher Products volume.
Financial - Earnings Highlight
Services Gross Margin Services gross margin increased during the second quarter and first six months of 2022 compared to the same periods in 2021 due primarily to higher Services net sales and a different Services mix, partially offset by the weakness in foreign currencies relative to the U.S. dollar.
Financial - Earnings Highlight
Products gross margin percentage increased during the second quarter of 2022 compared to the second quarter of 2021 due primarily to improved leverage.
Revenue - Geography Highlight
The Company's effective tax rate for the second quarter of 2022 was higher compared to the second quarter of 2021 due primarily to the impact to U.S. foreign tax credits as a result of the Regulations, partially offset by a lower effective tax rate on foreign earnings, including the favorable impact of changes in unrecognized tax benefits.
Financial - Earnings
Year-over-year Products gross margin percentage...Read more
Financial - Income
Other Income/(Expense), Net Other income/(expense),...Read more
Financial - Income
Apple Inc. | Q2 2022...Read more
Financial - Earnings
Services gross margin percentage increased...Read more
Revenue - Product
Quarterly Highlights Total net sales...Read more
Revenue - Geography
Year-over-year Americas net sales increased...Read more
Revenue - Geography
Year-over-year Rest of Asia Pacific...Read more
Revenue - Geography
The strength of the Chinese...Read more
Revenue - Product
Year-over-year Japan net sales decreased...Read more
Financial - Income
The Company's effective tax rate...Read more
Revenue - Product
The following table shows net...Read more
Revenue - Geography
Europe Europe net sales increased...Read more
Revenue - Geography
Greater China Greater China net...Read more
Revenue - Product
Business Seasonality and Product Introductions...Read more
Revenue - Product
Services Services net sales increased...Read more
Financial - Expense
Apple Inc. | Q2 2022...Read more
Revenue - Product
Wearables, Home and Accessories Wearables,...Read more
Revenue - Product
iPhone iPhone net sales increased...Read more
Financial - Expense
Year-over-year selling, general and administrative...Read more
Revenue - Product
The timing of product introductions...Read more
Other - Other
Forward-looking statements can also be...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Apple Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Ticker: AAPL
CIK: 320193
Form Type: 10-Q Quarterly Report
Accession Number: 0000320193-22-000059
Submitted to the SEC: Thu Apr 28 2022 6:03:58 PM EST
Accepted by the SEC: Fri Apr 29 2022
Period: Saturday, March 26, 2022
Industry: Electronic Computers