Apple beats profits and revenues and expects “growth to accelerate”

Apple does not usually disappoint with its results, and this time it has not been far behind either, although without raising passions, with increases of 3% in the ‘after hours’. The Cupertino firm has beaten profit and revenue expectations, and expects “growth to accelerate.” In earnings, it registers 1.2 dollars against 1.16, a drop of 8% year-on-year. In revenue, 83,000 million compared to the 82,810 expected, an improvement of 2%.

Apple has remarked that they have managed to achieve this income despite the shortage of certain parts that directly affect their billing, especially in the month of April, which slowed down the shipment of purchases to customers. Thus, it records 4,000 million dollars of damage for this concept.

Regarding the iPhone, its income rose 3% year-on-year to 40.67 billion dollars, 2 billion more than expected. The company’s main source of income is still at full capacity, despite ongoing suspicions that the goose that lays the golden eggs should stop at some point. “We are successful in attracting Android users to buy an iPhone this quarter,” said CEO Tim Cook. “We have recorded double-digit changes.”

In the services category, it improved by 12% year-on-year, meeting expectations. And that is recorded in the gross margin, which reaches 43.26% compared to the 42.61% expected. And expectations are positive: “In terms of an outlook as a whole, we expect revenue to accelerate in the coming months even though we see some pockets of weakness,” Cook said.

In addition, the firm is returning part of its profits to investors. Apple has reported spending more than $28 billion this quarter on share buybacks and dividends.

Calm the fears

In recent months, doubts had hovered over the firm, especially due to the confinements in China, one of its main markets, . He had also raised suspicions that inflation and the technical recession in the US were hurting his prospects. But the data has reassured investors.

“We see inflation in our cost structure, in areas like logistics, wages and certain components, but we’re still hiring. We’re doing it deliberately,” Cook said.