The astronomical image: Apple in its most latest quarter reported revenue of $83 billion for the fiscal third quarter ending June 25, an increase of 1.87 p.c compared to the year-in the past length. Profit, nevertheless, used to be down 10.59 p.c – from $21.74 billion to $19.44 billion – due in fragment to continued supply constraints and Covid-associated shutdowns in China as successfully as detrimental international substitute rates.

Earnings per fragment dropped to $1.20 from $1.31 during the similar length closing year but tranquil beat FactSet estimates of $1.16 per fragment. Apple’s board moreover declared a money dividend of $0.23 per fragment that is payable on August 11.

iPhone sales revenue increased 2.77 p.c year-over-year to $40.67 billion. Its services division saw powerful extra spectacular development of 12.11 p.c, from $17.49 billion in Q3 2021 to $19.6 billion in the most latest three-month length.

Revenue from the sale of Macs, iPads and devices in the wearables, dwelling and accessory categories used to be down this quarter compared to the similar length closing year. Macs were hit the hardest as revenue dropped bigger than 10 p.c to $7.38 billion in Q3. Revenue from the wearables class dipped 7.87 p.c to $8.08 billion and iPad revenue slid 1.95 p.c to $7.24 billion.

The 2nd half of of the year is on the entire the strongest for Apple, and that’s now not in actuality expected to commerce this time spherical. The next technology of iPhones is anticipated to debut in mid-September and originate every week or so later. They likely would perchance perhaps now not bear an impact on fiscal Q4 earnings attributable to timing, and will instead be mirrored on the following earnings characterize.

In a convention name with investors, Apple CFO Luca Maestri stated that given the continued uncertainty spherical the world in the near term, they don’t appear to be providing revenue guidance for the upcoming quarter. That stated, Apple does judge year-over-year revenue development will bound up during the September quarter compared to the June quarter. And on the product aspect, Maestri stated Apple expects supply chain constraints to be lower than what used to be skilled in fiscal Q3.

Image credit: Karolina Grabowska