by winston » Sat Apr 30, 2022 9:33 pm
not vested
Apple Inc (AAPL): Earnings Announced on Thursday, April 28
Apple beat analyst estimates for its second quarter in fiscal year 2022 on both the top and bottom lines.
The tech giant reported earnings of $1.52 per share, beating analysts’ estimates for earnings of $1.43 per share by 6%.
Revenue came in at $97.28 billion. Analysts expected revenue of $93.89 billion, so the company posted a 6% beat on revenue.
For the same quarter a year ago, the company reported earnings of $1.40 per share on revenue of $89.58 billion, so earnings and revenue both increased year-over-year by 9%.
The company also increased its dividend to $0.23 per share, a 5% increase from its previous dividend of $0.22 per share.
Despite the strong earnings, the stock dipped 4% after hours on Thursday after CFO Luca Maestri and CEO Tim Cook warned of coming supply chain challenges and coronavirus impacts on sales that the company will likely face in the future. Keep in mind that the company makes most of its products from the Shanghai province, which is still under lockdown.
But Apple has always been about the third quarter. The company will release a new iPhone in September and it’s making its own very efficient chips. So, we’ll see what that looks like at the end of the year.
For the third quarter in fiscal year 2022, analysts expect earnings of $1.25 per share on revenue of $86.49 billion.
Source: Investor Place
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