Apple 2022Q3 financial results: Total revenue increased by only 2% year-on-year
The financial reports given by various manufacturers are all kinds of substantial growth, but the situation this year is really different. Affected by many factors including changes in the global situation and supply chain tension, even if it is as strong as Apple, in the just past Q3 fiscal quarter, Apple had to slow down, and the total revenue in the quarter only increased by 2% year-on-year.
Apple announced in its latest earnings report that its total Q3 revenue this year was $83 billion. Albeit with little year-over-year growth, Apple still said that this was a new record for their Q3 revenue and that the installed base of the full range of products reached an all-time high in the quarter, but they did not give an expected revenue for the next fiscal quarter.
As for Mac computers, there was a decline, with revenue of 7.38 billion US dollars, a year-on-year decrease of 10%. Although Apple launched a new MacBook Pro with an M2 chip in June, it may have been a new wine in an old bottle and didn’t spark much sales growth. However, the new MacBook Air only went on sale in July, and the sales will not be seen until the Q4 earnings report.
The same decline in business, as well as the iPad product line, revenue fell 2% year-on-year to $7.22 billion, while other products such as Apple Watch and AirPods also decreased year-on-year revenue by 8% to $8.08 billion.
