Apple posts first fiscal quarter results, revenue hit 11% record high

Apple has released financial results for its fiscal 2022 first quarter ended December 25, 2021, revealing an all-time revenue record of $123.9 billion, up 11 percent year over year, and quarterly earnings per diluted share of $2.10.

The Big tech, retained the title of the world’s most valuable brand at the beginning of 2022 being the first company to reach a US$3 trillion market valuation.

The company’s board of directors have also declared a cash dividend of $0.22 per share of Apple’s common stock. The dividend is payable on February 10, 2022 to shareholders of record as of the close of business on February 7, 2022.

Commenting on the results, Tim Cook, Apple’s CEO said: “This quarter’s record results were made possible by our most innovative lineup of products and services ever. We are gratified to see the response from customers around the world at a time when staying connected has never been more important.”

In addition, Cook revealed that the company is doing all it can to help build a better world by making progress toward its goal of becoming carbon neutral across its supply chain and products by 2030, and pushing forward with the work in education and racial equity and justice.

Luca Maestri, Apple’s CFO said: “The very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings, and helped set an all-time high for our installed base of active devices. These record operating results allowed us to return nearly $27 billion to our shareholders during the quarter, as we maintain our target of reaching a net cash neutral position over time.”