 Apple Fifth Avenue | Image: Apple On Thursday, Apple reported its Q1 FY 2022 earnings, posting record revenues and beating product sales expectations. The iPhone maker reported Q1 revenue of $123.9B, an 11% increase YoY. Net income came in at $34.63B or $2.10 per share, a ~20% increase YoY. CEO Tim Cook reported the company’s supply chain issues were getting better and said he expects the March quarter to show an improvement. More: - iPhone revenue came in at $71.6B, a 9% increase YoY.
- Mac revenue was $10.85B, a 25% increase YoY.
- iPad revenue was $7.25B, down 14% YoY.
- Apple’s services revenue came in at $19.5B, up 24% YoY.
- The company declared a cash dividend of $0.22 per share that will be paid on Feb. 10.
- Apple shares jumped 5% in after-market trading.
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Tesla released its Q4 and full-year earnings on Wednesday, surpassing analysts' expectations on deliveries, revenue, and profits. The EV maker reported $17.72B in revenue in Q4, a 65% increase YoY. Automotive brought in $15.97B, a 71% increase YoY, while the company's Energy unit brought in $688M. Q4 net income came in $2.32B, or $2.05 per share, a 760% increase YoY. CEO Elon Musk stated the company's factories have been running below capacity for several quarters due to chip shortages. More: - Full-year revenue came in at $53.82B, a 71% increase YoY. Net income came in at $5.52B or $4.90 per share, a 665% increase YoY.
- Tesla delivered 936,222 vehicles in 2021.
- Musk stated the company would not be releasing any new Tesla models in 2022.
- The company plans to scale its production at its new factories in Berlin, Germany, and Austin, Texas, and develop its self-driving technology.
- Tesla shares fell ~5% in after-market trading on Wednesday. It closed at $829.10 on Thursday, down ~11.5% for the day.
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Renault, Nissan, and Mitsubishi announced plans to invest 23B euros (~$25.7B) over the next five years to develop its EV fleet. The alliance, which experienced some friction two years ago due to the shareholding structure between France's Renault and Japan's Nissan, said they are working well together and are focused on developing new battery technologies. More: - The companies are investing a lesser amount than rivals like Volkswagen and GM, which announced EV investments of $58.2B and $35B, respectively.
- Renault CEO Clotilde Delbos pointed to the alliance's collective 10 years of experience in the EV space, noting they don't feel the need to spend more as they are not starting from scratch.
- Nissan and Mitsubishi first introduced EVs to the market in 2009.
- Mitsubishi aims for half of its sales to come from EVs and hybrids by 2030.
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Samsung released its Q4 and full-year earnings on Wednesday, reporting record revenues. The company reported $63.7B in revenue for Q4, a 24% increase YoY. Q4 operating profits came in at $11.5B. Full-year revenue came in at $232.5B, a record for the company, with operating profits coming in at $42.9B. The company is planning to reveal a new model of its smartphone on Feb 9. More: - Samsung’s memory unit reported $21.6B in revenue in Q4 and an operating profit of $7.35B
- Its Mobile eXperience (mobile and consumer electronics) reported $24B in revenue and $2.2B in operating profit.
- Samsung shares closed $59.19 on Thursday, down ~3% for the day.
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 The U.S. economy grew ~7% in Q4 2021, led by increased consumer spending and businesses replenishing their inventories. According to the commerce department, GDP rose 6.9% on an annualized basis in Q4 and rose 1.7% compared to the previous quarter. Personal consumption rose 3.3% in Q3, accounting for ~67% of economic activity. The U.S. economy grew 5.7% for the entire year, its biggest increase since 1984. More: - On Wednesday, the Fed signaled plans to raise interest rates in mid-March.
- The Labor Department reported that jobless claims dropped 30,000 to 260,000 for the week ended Jan 22.
- Some economists are projecting economic growth for 2022 to reach as high as 3.9%.
- The U.S. dollar rose to its highest level in 18 months on Thursday, while the euro fell to its lowest at $1.124.
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McDonald's released its Q4 and full-year earnings on Thursday, missing analysts' expectations on both revenue and earnings amid rising costs. The fast-food chain reported Q4 revenue of $6.01B, a 13% increase YoY. Q4 net income came in at $1.64B or $2.18 per share, a 19% increase YoY. CEO Kevin Ozan said the company expects U.S. food and paper costs to increase by high single or low double digits in 2022. More: - Full-year revenue came in at $23.22B, a 21% increase YoY.
- Net income was reported at $7.55B or $10.04 per share.
- The company plans to spend between $2.2B to $2.4B on capital expenditures in 2022, with 40% of this spent in modernizing its U.S. restaurant.
- 50% will go towards opening over 1,400 new restaurants.
- McDonald's shares closed at $248.74 on Thursday, down less than a percent for the day.
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 |  | Vanessa Omeokachie is a Researcher at Inside. Her interests include finance, tech, and startups. In her free time, she enjoys reading, hiking, attending music festivals, and traveling. Connect with her on Twitter @Ms_Omeo. |  | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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