Apple Increases Services Revenue To $19.2 Billion In The Fourth Quarter

Apple reported fourth-quarter (ended Sept. 24) services revenue of $19.2 billion on Oct. 27, up 5% from $18.3 billion the previous year. Services revenue includes, among other things, sales of movies and TV shows on iTunes, the App Store, the Mac App Store, Apple Music, Apple Pay, Apple TV+, Apple Arcade, and Apple News.

Services revenue surpassed $394 billion for the fiscal year, up 8% from $366 billion the previous year. The Cupertino, California-based tech behemoth reported record fourth-quarter revenue of $90.1 billion, up 8% from $83.4 billion the previous year.

Apple sold $42.6 billion in iPhones in the third quarter, up nearly 10% from $38.8 billion in the previous year. Sales of Mac computers increased by 25% to $11.5 billion, up from $9.2 billion. iPad sales fell 13% to $7.2 billion from $8.2 billion. Revenue from wearables, home, and accessories increased nearly 10% to $9.65 billion from $8.8 billion.

Apple sold $205.5 billion in iPhones last year, up 7% from $192 billion the previous year. Sales of Mac computers increased 14% to $40.2 billion from $35.2 billion. iPad sales fell 8% to $29.3 billion from $31.9 billion. Revenue from wearables, home, and accessories increased by more than 7% to $41.2 billion, up from $38.4 billion.

“Our record September quarter results continue to demonstrate our ability to execute effectively in spite of a challenging and volatile macroeconomic backdrop,” CFO Luca Maestri said in a statement.

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