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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Monday, May 2, 2022

Apple Expects Covid-Related Hit

Apple said its year-over-year revenue performance during the June quarter will be impacted by "supply constraints caused by Covid-related disruptions and industry-wide silicon shortages". It expects these constraints "to be in the range of 4 billion to 8 billion US dollars which is substantially larger than what we experienced during the March quarter."

"The Covid-related disruptions are also having some impact on customer demand in China," Apple added. "With respect to foreign exchange, we expect it to be a nearly 300 basis point headwind to our year-over-year growth rate. Additionally, we paused, all sales in Russia during the March quarter. This will impact our year-over-year growth rate by approximately 150 basis points."

In the March quarter, Apple's sales rose 9% year-on-year to 97.3 billion dollars, with product revenue up 7% and services revenue up 17%. The company said it now has more than 825 million paid subscriptions across the services on its platform, which is up more than 165 million from a year earlier. Source: Apple earnings call transcript

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