Apple reports best March quarter ever with new records for iPhone and Mac

Photo by Vjeran Pavic / The Verge

Even as it deals with continued supply constraints and consumers wary of inflation, Apple reported the best March quarter in its history. The company's revenue in the second quarter was $97.3 billion, up 9 percent from a year ago. The profit was $25 billion and the earnings per share was $1.52.

The March quarter revenue records were set by Apple. Apple's various services grew to a new high of 825 million subscribers. The last seven Mac quarters have been the top seven in the history of the Mac, according to Apple CEO Tim Cook. The second quarter saw a slight decrease in iPad sales. Cook said that the supply constraints were very significant.

The year-ago Q2 saw very strong demand for the iPhone due to the launch of the 12 series in the fall, but the increase in revenue comes even after that. The new products released by Apple during the March quarter included the third-gen iPhone SE, green colors of the iPhone 13 and iPhone 13 Pro, the powerful Mac Studio desktop, and the 5K Studio Display external monitor.

The company said in January that it expected supply chain challenges to ease up during the March quarter. Supply chain issues might become a bigger problem over the next few months as a result of China carrying out strict lockdowns to limit the spread of COVID-19.

Apple's Mac lineup is currently experiencing shipping delays. The Mac Studio with the M1 Ultra chip is expected to be delivered in late July. Customers will wait until June or later to receive orders for 14- and 16-inch MacBook Pro configurations.

At the Worldwide Developers Conference in June, Apple will show off the next major updates to its operating systems. Except for a small group of guests that will be invited to Apple's campus, the conference will be largely virtual.

Challenges to Apple's comprehensive control over the App Store and iPhone software are continuing. EU legislation could force the company to allow third-party software stores. Some countries have agreed to allow third-party payment methods in certain categories, like dating apps.