Thursday, September 21, 2023

iPhone and Services revenue up in third fiscal quarter; money from other Apple categories down

Apple has announced financial results for its fiscal 2022 third quarter that ended June 25, 2022. iPhone sales and Services revenues were up, but all other product categories were down.

The smartphone saw revenue of $40.6 billion, that’s up from $39.5 billion in the year-ago quarter. Services revenue —including the Apple Store, Apple Music, and iCloud. Others are Apple TV+, Apple Care, and Apple Arcade — was up from $17.4 billion to $19.6 billion. However, these categories saw revenue drop:

° Mac: $7.3 billion, down from $8.2 billion in the year-ago quarter;

°  iPad: $7.2B, down from $7.3 billion in the year-ago quarter;

° Wearables, Home, and Accessories (Apple Watch, AirPods, AirPods Pro, AirPods Max, HomePod mini, etc.): $8 billon, down from $8.7 billion the year-ago quarter.

In a call with analysts and the media, Chief Financial Officer Luca Maestri made these points:

° Apple tallied 860 million total paid subscriptions across all services in the fiscal third quarter. That’s up 160 million over the last 12 months.

° More than half of those buying Macs, iPads, and Apple Watches are new users for those products. (This is pretty much what Apple says with each quarterly revenue update.)

° Apple saw an all-time high of installed devices for all major product categories and in some geographic regions.

Dennis Sellers
the authorDennis Sellers
Dennis Sellers is the editor/publisher of Apple World Today. He’s been an “Apple journalist” since 1995 (starting with the first big Apple news site, MacCentral). He loves to read, run, play sports, and watch movies.