Apple's earnings

Apple (NASDAQ: AAPL) shares fell on the post-market after its financial report for the first three months of 2022.

However, sales revenues rose and, like earnings, beat Wall Street estimates.

Apple on Thursday reported results for its second financial quarter after the close of trading.

A 9% rise in revenues compared with last year's figure allayed investor fears of a deteriorating macroeconomic environment affecting demand for high-end smartphones and computers. However, Apple (NASDAQ: AAPL) shares fell almost 4% on the post-market after Apple's CFO Luca Maestri warned of several problems in the current quarter, including supply constraints related to Covid-19, which could reduce sales by between $4 billion and $8 billion.

Executives at the world's largest tech company also warned that demand in China is declining due to quarantine restrictions related to Covid. Apple CEO Timothy Cook added that the company is "not immune" to supply chain problems.

Report from Apple

In its report, the company said that earnings per share rose 9 per cent to $1.52.

Total revenues for FY2 rose 8.6% to $97.28bn.

iPhone revenue rose 5.5 percent to $50.57 billion.

Also, Apple reported revenue from its services business rose 17.28% to $19.82 billion.

The company's revenue from other products increased 12.37% to $8.81 billion.

Mac revenue rose 14.73% to $10.44 billion and iPad revenue fell 1.92% to $7.65 billion.

Apple was founded in 1976 and is headquartered in Cupertino, California.

Executive at Apple:

Tim Cook - CEO;
Katherine Adams - SVP and General Counsel;
Eddy Cue - SVP Services;
Craig Federighi - SVP Software Engineering;
John Giannandrea - SVP Machine Learning and AI Strategy;
Greg Joswiak - SVP Worldwide Marketing;
Sabih Khan - SVP Operations;
Luca Maestri - SVP and CFO;
Deirdre O'Brien - SVP Retail people;
Johny Srouji - SVP Hardware Technologies;
John Ternus - SVP Hardware Engineering;
Jeff Williams - COO;
Lisa Jackson - VP Environment, Policy and Social Initiatives;
Isabel Ge Mahe - VP and Managing Director of Greater China;
Tor Myhren - VP Marketing Communications;
Adrian Perica - VP Corporate Development;
Kristin Huguet Quayle - VP Worldwide Communications;
Phil Schiller - Apple Fellow.