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The financial results for the first fiscal quarter of 2020 correspond to the fourth calendar quarter of 2021.
For the quarter, Apple posted revenue of $123 billion and net quarterly profit of $34.6 billion, or $2.10 per share, compared to revenue of $111.4 billion and net quarterly profit of $28.6 billion, or $1.68 per share, in the year-ago quarter.
Apple's revenue and earnings for the quarter were all-time records, despite the fact that the company had previously said it would be hard to meet customer demand during the quarter. The Services segment recorded all-time highs for revenue.
The year-ago quarter's gross margin was 39.8%. The quarterly dividend of Apple will be paid on February 10 to shareholders of record as of February 7.
“This quarter’s record results were made possible by our most innovative lineup of products and services ever,” said Tim Cook, Apple’s CEO. “We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice.”
For the past year, Apple has not issued guidance for the current quarter, which ends in March.
MacRumors will update this story with coverage of the conference call highlights when Apple provides live streaming of its fiscal Q1 2022 financial results conference call at 2:00 pm Pacific.
The conference call starts at 2 p.m. There is no need to refresh.
| 2:17 pm | New records for Services, with positive momentum on many fronts. December quarter record for the App Store. |
| 2:17 pm | $14.7 billlion for Wearables, Home, and Accessories, and records in each geographic segment. Apple Watch saw 2/3 of customers new to the product. |
| 2:16 pm | iPad saw "very significant" supply constraints though customer demand was very strong across all models. Half of customers purchasing an iPad during the quarter were new to the product. |
| 2:16 pm | Latest survey shows iPhone customer satisfaction at 98%. Mac saw strong demand for MacBook Pro. The vast majority of Mac sales are from M1-powered devices. Record number of upgraders, and the last 6 quarters have been the best 6 quarters ever for Mac. |
| 2:14 pm | The current installed base of active devices is 1.8 billion devices. Growth was broad-based, with all-time records in each product category and geographic segment (except iPad). $19.5 billion in services revenue, and records across every geographic segment. 43.8% gross margin due to volume leverage and favorable mix, partially offset by higher cost structures. 38.4% product gross margin and 72.4% services gross margin. |
| 2:13 pm | Now Apple CFO Luca Maestri is on to discuss the performance in more detail. The company set records in many geographies. Revenue was $101.4 billion on products, despite significant supply constraints. Grew in each product category except iPad, "where supply constraints were particularly pronounced." |
| 2:12 pm | Tim also mentioned the company's work on diversity and its Black History Month recognition, including a new Apple Watch band and a watch face. |
| 2:11 pm | We also launched a new partnership with the Boys & Girls Club of America. The initiative will help youngsters learn to code on iPads. Apple is climate-neutral across the company's operations and is working intensely to reach a 2030 goal of carbon neutrality across the supply chain and throughout the lifetime of its products. |
| 2:10 pm | Last year, celebrated 10 years of the Employee Giving program. We pledged to match contributions to organizations doing important work at every level. This program has contributed nearly $725 million to charitable organizations. We also celebrated 15 years of Apple's partnership with Project (RED). Raised $270 million for Project (RED). |
| 2:09 pm | Our retail business saw its highest revenue in Apple history, and earned its highest ever customer satisfaction stores. |
| 2:08 pm | Services set an all-time revenue record, performing even better than Apple anticipated. Tim calls the App Store an economic miracle for developers, noting that it's safe for users. $260 billion transferred to developers. 200 award wins for Apple TV+ shows and movies, with 890 nominations. |
| 2:07 pm | Wearables, Homes, and Accessories set an all-time record as well, thanks to the Apple Watch 7 and other devices. Tim is talking about receiving emails from Apple Watch owners who have received heart-related alerts or were able to call 911 from their watch in an emergency. |
| 2:05 pm | The iPad continues to be indispensable to millions of teachers, students, artists, creatives, and more. |
| 2:05 pm | An all-time revenue record was set for the Mac, thanks to M1-powered devices. M1 Pro and M1 Max is blowing users away with power, performance, and efficiency. |
| 2:05 pm | Each of our major products leads the industry in customer satisfaction in their categories. iPhone set an all-time revenue record, thanks to the strength of the iPhone 13 lineup. |
| 2:04 pm | He is now reflecting on the 15th anniversary of Steve Jobs' unveiling of the iPhone earlier this month. |
| 2:04 pm | Tim is expressing gratitude to medical workers and others fighting COVID-19. Tim notes this is the 8th quarter dealing with the COVID pandemic. |
| 2:03 pm | Tim Cook is proud to announce Apple's biggest quarter ever, noting an all-time revenue record up 11 percent from last year and better than expected at the beginning of the quarter. There are more than 1.8 billion active devices, another record. Revenue growth across all product categories except iPad, which was supply constrained. Supply constraints were higher than the prior quarter. |
| 2:01 pm | The earnings call with analysts is beginning. |
| 1:42 pm | Even with the after-hours bump, the share price is still well off the all-time high of earlier in the month when the price touched $182.94. It's currently just above $165. |
| 1:40 pm | With $10.85 billion in revenue, Apple's Mac sales broke through the $10 billion mark for the first time ever. Services are also approaching a milestone with a record $19.5 billion in revenue. iPad had $7.25 billion was the only segment to not set an all-time record, which isn't too surprising given a lack of recent updates for the iPad Pro and iPad Air lines. |
| 1:37 pm | Apple's share price is currently up over 2% in after-hours trading. |
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