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A survey of Apple’s record and limited earnings in the fourth quarter of 2021.


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Apple broke records during the September quarter, although it missed Wall Street’s expectations. Here’s how Apple’s Q4 2021 fits in compared to the company’s previous quarters and years.

The iPhone maker announced its quarterly earnings on Thursday. Although he set a new overall revenue record for the September quarter, he missed Wall Street’s consensus forecast for that period, largely due to supply constraints.

Here’s what the quarter looks like in numbers compared to previous earnings results.

Revenue and net profit

Apple reported total revenue of $ 83.4 billion for the September quarter, up 29% from the same period last year. Although that number exceeded Wall Street expectations, it represented a new record for Apple’s Q4, which corresponds to the third quarter of the calendar.

Apple revenue and net profit.

The company’s net profit reached $ 20.6 billion, an increase of 47.5% over the previous year compared to the $ 12.6 billion net profit generated in the fourth quarter of 2020.

Percentage changes in revenue and net profit compared to the previous year.

Percentage changes in revenue and net profit compared to the previous year.

Earnings per share reached $ 1.24, an increase of 51.7% from 0.73 cents in the same quarter last year.

Gross margins

Gross margin as a percentage of revenue.

Gross margin as a percentage of revenue.

Gross margins, which are usually a good indicator of Apple’s profitability, reached 42.2% in the fourth quarter of 2021, compared to 38.2% in the fourth quarter of 2020.

Quarterly income and gross margins.

Quarterly income and gross margins.

The number is not a record – the current high is 47.37% in the second quarter of 2012 – but it still represents a healthy gross margin for the company.

R&D

Apple, like other technology companies, spends a lot of money on research and development. That money goes to create new products and technologies.

Apple revenue relative to research and development costs.

Apple revenue relative to research and development costs.

R&D costs have continued to rise for Apple, although when you contextualize the R&D numbers with the company’s total revenue, it makes sense why the company spends so much.

Annual income, gross margin, net income

Apple reported total annual sales for 2021 of $ 365.8 billion, up 33% from $ 274.5 billion in 2020. Gross margins for 2021 were up 45.6% from to the previous year.

Annual income, gross margins and net income.

Annual income, gross margins and net income.

Apple’s costs also rose during 2021. Operating costs rose 13.5% year-over-year and R&D costs rose 16.9%.

However, Apple’s revenue has also risen. The company’s operating income increased by 64.4% in 2021, and its net income by 64.9%.

Fun facts about the annual: Gross sales grew 33% year-over-year for the full year. Gross margin increased by 45.6%, operating expenses by 13.5%, research and development by 16.9%, operating income by 64.4%, net income by 64.9%.

Products

Taking a broad look at Apple’s product categories, it seems that almost every segment of the company’s business has grown from year to year since 2020.

Apple quarterly revenue per product.

Apple quarterly revenue per product.

According to the chart, 2020 seemed remarkable in terms of iPhone revenue growth. Apple’s flagship product seemed to contribute less and less to the company’s revenue as time went on.

However, the trend now seems to be normalizing, with iPhone revenue still recording healthy growth along with all other products in Apple’s lineup.

iPhone

Apple reported iPhone revenue of $ 38.9 billion in the company’s fourth quarter, a healthy increase from $ 26.4 billion in the same quarter last year.

Quarterly iPhone revenue.

Quarterly iPhone revenue.

On the other hand, the charts reveal an interesting drop in Apple’s iPhone revenue in the third quarter of 2021. Typically, Apple’s third quarter is the slowest in terms of iPhone sales. In 2021, however, iPhone revenue actually fell between Q3 and Q4.

It is worth noting that lower-than-season performance can be attributed to current chip shortages and supply constraints, which Apple says could affect the December holiday quarter. As you can see in the chart, the holiday quarter is Apple’s busiest for the iPhone – and it’s not clear how much impact the product will have during that period.

iPad

Apple’s iPad revenue reached $ 8.3 billion during the quarter, up 21% from a year earlier compared to the company’s $ 6.8 billion revenue from the iPad in 2019.

Quarterly revenue from iPad.

Quarterly revenue from iPad.

It is likely that the iPad continues to benefit from pandemic trends in work and distance education. Apple also launched new iPad mini and 10.2-inch iPad models during this quarter, although they were introduced too late to have a significant impact.

Mac

Quarterly Mac revenue.

Quarterly Mac revenue.

Mac’s revenue for the fourth quarter of 2021 was almost the same compared to the same quarter last year. Apple reported Mac revenue of $ 9.2 billion, up from $ 9 billion in the fourth quarter of 2020.

Despite relatively subdued growth, $ 9.2 billion is still the highest level of all time for the Mac.

Services

Revenue from Apple’s services also reached a new record of $ 8.8 billion in the September quarter, up 26% from a year earlier.

Revenues from services by quarters.

Revenues from services by quarters.

Services were a reliable driver of growth for the company, with stable revenue growth almost every quarter.

Portable devices, house and accessories

Portable devices, houses and accessories – which make up the Apple Watch, AirPods, HomePod mini and other products – reached revenue of $ 8.8 billion in the fourth quarter of 2021, up 11% from the previous year.

Quarterly income from wearable products, households and accessories.

Quarterly income from wearable products, households and accessories.

Apple AirPods and Apple Watches are consumer success stories and undoubtedly drive most segments of wearable, home and accessory products.

Regional revenues

Revenues of operating segments by regions.

Revenues of operating segments by regions.

Apple recorded growth in most of the regions in which it operates, with some regions recording a significantly more significant increase compared to last year than others.

Apple's quarterly revenue growth in America.

Apple’s quarterly revenue growth in America.

The company reported revenue of $ 36.8 billion in the United States, $ 20.7 billion in Europe, $ 14.5 billion in Greater China, $ 5.9 billion in Japan and $ 5.1 billion in the rest of Asia and the Pacific.

Apple's quarterly revenue growth in China.

Apple’s quarterly revenue growth in China.

After a significant drop in revenue in China, Apple’s performance in the country appears to have recovered. Apple recorded remarkable growth in China, representing an almost doubling of revenue between Q4 2020 and Q4 2021.



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Naveen Kumar

Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.

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