Reporting season in the USA

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Reporting season in the USA
Apple and Tesla report record revenue

Apple Inc. has published a report for the first quarter of fiscal year 2022. The company’s revenue reached a record $123.9 billion, an increase of 11% compared to the same period last year. Net profit amounted to $34.6 billion (+20%). Apple traditionally attribured the largest part of it to the iPhone, increasing sales revenue by 9% to $71.6 billion.

According to preliminary estimates, in the last quarter Apple became the leader of sales worldwide. Tim Cook, CEO of the corporation, said that such high results “became possible thanks to the most innovative line of products and services in our entire history,” however, some experts associate the unprecedented revenue of the company with increased demand for goods during the New Year holidays.

Tesla Inc., the manufacturer of electric vehicles, despite the problems in the supply chains, received a record net profit of $5.52 billion by the end of 2021, which is 7.7 times higher than in the previous year. The company’s revenue amounted to $53.8 billion (+71%), and the number of cars sold amounted to 936 thousand cars (+87%).

The main task of the company for the next year will be to increase production. According to Elon Musk, it is planned to increase supplies by more than 50%. It also became known that you should not expect new car models in 2022.

Stepan Sumin, asset manager of CRESCO Capital, analyzed the statements of both companies. Learn more from the video!