Apple generated record revenue of $ 123.9 billion in the fourth quarter of 2021, 11 percent more than the previous year as its services business expanded, and the chip shortage was largely limited to iPad sales.
The net profit of iPhone and computer companies in the last three months of this year jumped 20 percent to $ 34.6 billion, well above the forecast of $ 31.1 billion. Revenue exceeded analysts’ expectations of $ 119 billion and reported $ 111.4 billion a year earlier.
Apple shares jumped 5 percent after the announcement of results late Thursday.
Finance chief Luca Maestri told the Financial Times supply chain problems torturing large areas of the economy cost Apple “more than $ 6 billion” in revenue, similar to the previous quarter. Investors expected the drop in supply to be closer to $ 10 billion based on previous company comments.
Maestri said supply chain problems are being addressed, adding: “We expect to set a revenue record in March and expect solid revenue growth over the previous year.”
The technology giant from Cupertino, who briefly achieved a market value of $ 3 billion This month, the iPhone said it accounted for 58 percent of total revenue, up 9 percent from a year earlier to $ 71.6 billion. Analysts expected sales of $ 67.4 billion.
“The top five best-selling smartphones in the U.S. and Australia were all iPhones,” Maestri said. “The four best in urban China were all iPhones.”
Revenue in China rose 21 percent to $ 25.8 billion, while sales in the United States rose 11 percent to $ 51.5 billion and sales in Europe rose 9 percent to $ 29.7 billion. Japan was the only weak point, with sales down 14 percent to $ 7.1 billion; sales in the rest of Asia rose 19 percent to $ 9.8 billion.
According to the research group Counterpoint, shipments of Apple smartphones in China increased by 32 percent compared to the previous year to 50 million units, take first place from Huawei after U.S. sanctions reduced supplies of components to the Chinese group.
Asked if Apple should revise its supply chain at all, CEO Tim Cook said: “I think our supply chain is actually very good given the shortages.
“It’s a fast-moving supply chain, the cycle time is short, there’s very little distance between the chip being produced and packaged until it leaves the factory. So I don’t see it working [for] fundamental change in the supply chain. ”
Revenue from the services department, which houses the App Store and digital media purchases, jumped 24 percent to $ 19.5 billion, above a 19 percent increase forecast. Operating margins for the segment rose to 72.4 percent, almost double the 38.4 percent margin on products.
“We have a big boost around paid subscriptions – we now have more than 785 million paid subscriptions on our platform,” Maestri said. “It’s only been 165 meters in the last 12 months.”
The wearable unit, which sells Apple Watch and AirPods, saw revenue increase 13 percent to $ 14.7 billion. Mac sales rose 25 percent to $ 10.9 billion.
IPad sales were the only category to fall, as Apple gave priority to iPhone components. Tablet sales fell 14 percent to $ 7.2 billion.
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