Apple made more money than ever, even with the supply chain crunch

Apple has made a regular trend of announcing record-breaking quarterly earnings, especially in the company’s fiscal Q1, which includes the holiday shopping season. And Q1 2022 has managed to top them all: Apple just reported the biggest revenue for any quarter in its history. Driven by sales of the iPhone 13 lineup and a continued rise of its services business, Apple posted $123.9 billion in revenue with earnings per share of $2.10, handily beating Wall Street expectations of $118.66 billion and $1.89, respectively. Apple recorded a profit of $34.6 billion — also a record.

The iPhone enjoyed a supercharged sales quarter, no surprise given that it was a holiday period and the first full quarter of availability for the iPhone 13, 13 mini,...

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