Apple shared quarterly financial results for the period ending September 30 with total revenues of $89.5 billion and profits of $22.9 billion. Revenue is down 1% compared to the same period last year, while net profit is up 10% year over year.
Apple’s consolidated financial statements for the period ended September 30
The latest generation iPhones contributed $43.8 billion in net sales, or nearly 49% of Cupertino’s total quarterly revenue, while the services sector which includes the likes of Apple Music, TV+ and iCloud reached a new all-time revenue high of $22.3 billion. Looking at the rest of Apple’s product ecosystem, we find declining net sales for Macs, iPads and wearables, with Mac computers seeing a 51% sales decline.
The Americas remains Apple’s strongest market with $40.1 billion in net sales, followed by Europe ($22.5 billion) and China ($15.1 billion). Looking ahead, Apple is cautious about potential supply chain issues that could delay deliveries of its flagship iPhone 15 Pro and Pro Max models, although Tim Cook is confident that Apple will “achieve a balance between supply and demand.”
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