Apple revenue increased by 2% in the June quarter
Apple Inc., an American tech giant, released its financial report on Friday for the quarter that concluded in June 2022. Despite a highly unstable global economy and unfavorable macroeconomic conditions, the California-based computer behemoth reported record revenue and sales during the quarter. The phone manufacturer’s revenue climbed by 2% when compared to the June quarter of the prior fiscal year. In the most recent quarter, Apple Inc. generated 83 billion dollars in revenue. The computer giant’s services division saw a 12 percent increase in sales during the quarter.
The chief executive officer of Apple Inc. stated in a statement that the company’s ongoing efforts to innovate and open up new possibilities were the reason for the strong revenue figures reported in the quarter. Additionally, he stated in the statement that the business places the highest emphasis on its clients by adhering to Apple’s quality standards and ideals. In keeping with its long-standing objective of making products for everyone, the company developed and launched new features that are intended to safeguard the privacy and security of every Apple customer.
Between April and June 2022, revenue from iPhone sales climbed from 39.5 billion to 40.7 billion dollars, along with the expansion in sales in the service divisions. iPhone sales revenue has increased by 3% in comparison to the same quarter in the prior fiscal year. Despite an increase in iPhone sales, the Mac suffered a severe setback and saw a growth decline from 8.2 billion to 7.4 billion. Reports say that the falling revenue from the Mac segment was caused by both ongoing problems with the economy and growing problems with the supply chain.
Similarly, sales of Apple’s wearables and home accessories, including Apple Watches, AirPods, and HomePods, dropped by 8%. Over the course of the three months, sales of these products decreased from $8.8 billion to $8.1 billion. The iPad saw a tiny decline as well, going from $7.3 billion to $7.2 billion. An in-depth look at Apple Inc.’s services showed that the number of customers with paid subscriptions rose from 825 million in the previous quarter to 860 million in the current quarter.