Apple narrowly beats estimates, reports record Q3 2022 revenue

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Nov 10, 2017
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Apple today officially reported its earnings for the third fiscal quarter of 2022, covering the second calendar quarter and the months of April, May, and June. A lot of eyes are on Apple as concerns mount over an economic downturn in the United States. Here’s what the company reported today.

For Q3 2022, Apple reported revenue of $83.0 billion and a profit of $19.4 billion. Earnings-per-share hit $1.20 for the quarter.

Apple’s Q3 2022 earnings​

For Q3 2022, analyst predictions for revenue varied; $79.26B at the low end to $88.41B at the high end. The average across 26 analysts, however, was $82.81 billion.

Apple had not provided any guidance for Q3 2022, citing ongoing supply chain issues and continued disruptions caused by the COVID-19 pandemic. In fact, the company had even warned that supply constraints would cost it somewhere in the range of $4 billion to $8 billion in revenue for the quarter.

For comparison’s sake, in the same quarter a year ago, Apple reported $81.43 billion in revenue and profit of $21.74 billion. It reported earnings-per-share of $1.30. These numbers were boosted heavily by pandemic-induced spending, driven by strong iPad and Mac revenue growth.

Apple no longer reports unit sales for any of its products but instead reports a breakdown of revenue by product category. Here is the full breakdown for the fiscal Q3 2022:
 

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