Apple Reports Record Revenue of Nearly $82B in April-June Quarter
According to CEO Tim Cook, the company achieved an all-time high in services revenue during the quarter.
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Apple, the US multinational technology company, reported a quarterly revenue of $81.8 billion for the April-June period, according to its financial results statement released on Thursday. This represents a 1% decrease from the same period last year.
CEO Tim Cook stated that the company was pleased to report an all-time high in services revenue during the June quarter, driven by over 1 billion paid subscriptions and strong sales of iPhone in emerging markets. Services revenue amounted to $21.2 billion for the three months ending June 1, an increase of 8.2% from $19.6 billion in the same period last year.
However, net sales of products decreased by almost 4.3% to $60.6 billion from $63.3 billion year-on-year. Net income remained relatively unchanged at $19.8 billion, compared to $19.4 billion during that period.
Sales of iPhone, Mac, and iPad all declined, with iPhone sales falling to $39.6 billion from $40.6 billion, Mac sales declining to $6.8 billion from $7.4 billion, and iPad sales decreasing to $5.8 billion from $7.2 billion.
As a result of the decline in sales, Apple’s stock price fell by 1.7% to $187.93 per share on the Nasdaq as of 4:50 p.m. EDT in after-hours trading, after closing Thursday at $191.17 a share.
In 2022, Apple set a quarterly revenue record with almost $83 billion for the three months ending June 25, which the company refers to as the third quarter of its fiscal year.
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