Apple reaches a new record and beats expectations

Apple Inc. (AAPL) reported its fiscal 2022 first quarter ended December 25, 2021 after the market close on Wall Street on Thursday.

The company beat both revenue and earnings per share estimates, sending the stock higher in the after-hours trading.

Apple reported total revenue of $123.945 billion (an all-time revenue record and up 11% year-over-year) vs. $119.003 billion expected.

Earnings per share at $2.10 vs. $1.90 per share estimate.

Tim Cook, Apple’s CEO commented on the latest results and companies plans in the near future: ”This quarter’s record results were made possible by our most innovative lineup of products and services ever.”

”We are gratified to see the response from customers around the world at a time when staying connected has never been more important. We are doing all we can to help build a better world — making progress toward our goal of becoming carbon neutral across our supply chain and products by 2030, and pushing forward with our work in education and racial equity and justice,” Cook added.

Apple chart (Weekly)

Shares of Apple were up by around 5% in the after-hours trading following the earnings beat. The stock is up by 16.14% in the past year at $159.06 per share.

Apple is the largest company in the world with a total market cap of $2.6 trillion.

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Sources: Apple, TradingView, GO Markets MT5, CompaniesMarketCap