Apple Faces Supply Problems Despite Record Profit In Q2

Share post:

Apple has said it is facing supply problems in the current quarter that could hurt sales and slow growth.

According to Apple Chief Financial Officer Luca Maestri, the ongoing war in Ukraine is having a big impact on sales after the company halted sales in Russia.

Apple’s decision to suspend sales in Russia would further limit the company’s sales in the third quarter. Along with other problems such as COVID-19 restrictions and chip bottlenecks, Maestri announced that supply chain problems would weigh on third-quarter sales by $4 billion to $8 billion.

Apple’s revenue in the second fiscal quarter was $97.3 billion, up 8.6 percent from a year earlier and higher than the average analyst estimate of $93.89 billion.

Total profit was $25 billion, or $1.52 per share, beating analysts’ expectations of $23.2 billion and $1.43 per share.

Apple’s iPad sales fell to $7.65 billion in the second quarter due to supply chain problems. Despite supply chain problems, Mac computers rose 14.7% to $10.4 billion. Sales of wearables, speakers and accessories rose 12% to $8.8 billion.

The sources for this piece include an article in Reuters.


Related articles

The good and the bad of AI generated code

Generative AI tools are transforming the coding landscape, making both skilled and novice developers more efficient. However, the...

VMWare revenue drops by $600 million but Broadcom assures investors growth plan is on track

In its first full quarter under Broadcom's ownership, VMware's revenue fell by $600 million, dropping to $2.7 billion....

Is Oracle killing off MySQL?

Yesterday we covered a story about how Oracle was now cracking down on licensing Java, which started as...

Microsoft’s AI success may spell defeat for it’s climate goals

Microsoft's ambitious strides in AI technology are now posing a significant challenge to its own climate goals, as...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways