What Apple’s quarterly numbers tell us about iPhone, iPad, Mac and more – Times of India

Days after the likes of Google, Meta, Microsoft announced their quarterly results, it was Apple’s turn to do the same. Apple announced financial results for Q4, 2022 and revealed that it had posted a September quarter record revenue of $90.1 billion. The revenue, as per Apple, has grown 8% year-over-year. Moreover, Apple’s annual revenue stood at $394.3 billion. Apple has also revealed how its various categories of products and services fared in the quarter gone by. “We set records for iPhone, Mac, wearables, home and accessories and services while growing double-digits in emerging markets and setting records in the vast majority of markets we track,” said Tim Cook, CEO, Apple. Here we break down Apple’s numbers across categories:

The iPhone remains the star of the show

The smartphone industry is in a bit of a turmoil as shipments have been declining world over. Apple hasn’t suffered too much as the revenue from iPhone grew 10% year-over-year and stood at $42.6 billion. “We set September quarter records in the vast majority of markets we track, and our performance was particularly impressive in several large emerging markets, with India setting a new all-time revenue record and Thailand, Vietnam, Indonesia, and Mexico more than doubling year over year,” said Luca Maestri, CFO, Apple. Furthermore, Apple said that it set a quarterly record for upgraders and grew switchers double digits.
Cook, however, did say that it’s way too early to judge how the iPhone 14 series is doing. There have been supply constraints on the iPhone 14 Pro models and Cook said that “ we continue to be constrained today”.

The numbers from iPad are down

The one category where Apple seems to be losing revenue is the iPad. According to the company,iPad revenue was $7.2 billion, down 13% year over year “due to significant negative foreign exchange and a challenging compare due to the launch of new iPads a year ago.” Apple just launched two new iPad models — the iPad Pro and 10.9-inch iPad. Apple said that despite decline in revenue the iPad installed base reached a new all-time high. Also, over half of the customers who purchased iPads during the quarter were new to the product, said Apple. On why iPad revenue had shrunk, Cook said that last year the iPad Pro was launched before the quarter started and “it was an exceptionally strong iPad quarter a year ago and the launches were really key to that performance.” This year the story was different and hence the decline in numbers.

Mac is doing really well for Apple

Apple claims to have set achieved an all-time revenue record of $11.5 billion, which is up 25% year-over-year from the sale of Mac devices. Moving to its own set of processors, clearly has done wonders for Mac and Apple as for the last few quarters, Mac sales have been on the up. Global PC shipments fell 15.5% year-over-year in Q3,2022 reaching 71.1 million units, as per the latest report by Counterpoint Research. Bigwigs like Lenovo, HP, Dell all reported year-on-year decline in shipments in Q3, 2022. Except Apple. As per Counterpoint Research, Apple’s shipments grew 7% year-over-year — bucking the overall market sentiment.

Watch, AirPods, HomePod also doing well

The launch of Apple Watch models and new AirPods Pro seem to have done the trick for Apple as wearables, home and accessories revenue was $9.7 billion, growing 10% year over year, driven by the launch of Apple Watch and new AirPods Pro.Apple also said that the installed base of devices in the category to a new all-time record. For the Apple Watch, the company claims that two-thirds of customers purchasing an Apple Watch during the quarter were new to the product.