Apple has just revealed its earning for the first fiscal quarter of this year. The company is projecting a strong Q1 2022 performance, while also exceeding market expectations in the previous quarter as well.

Apple
iPhone 13 Pro series

In the last quarter of 2021, the Cupertino based giant reported a revenue of 123.9 billion US Dollars, which was higher than Wall Street’s estimates of 118.66 billion US Dollars. Notably, this figure was also 11 percent higher than the its top line of 111.4 billion US Dollars during the same period in 2021. The brand’s iPhone was undoubtedly performed well last year, with the smartphones crossing Wall Street’s initial expectation of 68.34 billion US Dollars and reaching 65.60 billion US Dollars. This marked a growth of 9 percent year on year as well.

The newly launched iPhone 13 Pro, which arrives with a 120Hz ProMotion, upgraded cameras, improved battery life, and even 5G support was an integral part of this growth. Despite the ongoing pandemic, educational institutions are opening up and lesser people are working from home. This, in turn, lead to the decline of iPad revenue by 14.1 percent in this, falling to 7.25 billion US Dollars from 8.44 billion US Dollars that it recorded in the first fiscal quarter of last year. The Wall Street had estimated that the brand will bring in 8.18 billion US Dollars in revenue from its tablets, so this segment under performed.

 

Apple
App Store

However, an area where the iPhone maker saw the strongest growth was its various services. This includes the likes of App Store, Apple Pay, Apple Music, Apple TV+, Apple Care+, Apple News, and more. The segment saw a revenue rise reaching 19.52 billion US Dollars this year over 15.75 billion US Dollars from last year. Notably, the figure also crossed Wall Street’s projection of 18.61 billion US Dollars as well, and marked a significant 24 percent jump year on year.

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