Apple Q2 revenues shrink, but services now boast over 1 billion subscriptions
Apple reported $81.8 billion in quarterly revenues for the April, May and June months which is a 1.4% dip compared to the same period last year. The Q2 months traditionally see plummeting sales figures as consumers await the next generation of iPhones set to release in the Fall period.
Net income stood at $19.88 billion while earnings per diluted share rose to $1.26. Cupertino saw an impressive $21.2 billion in revenue from its Services sector which includes the App Store and all subscription-based services with over 1 billion paid subscriptions for the period.
On the other end, iPhone, iPad and Mac sales were all down. In an interview with CNBC, Tim Cook confirmed that sales of the iPhone 14 series were down 2% compared to that of the iPhone 13 series a year ago. iPad sales were down 20% on a yearly basis. The wearables, home and accessories was the only category that saw a rise in sales.
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Reader comments
- Ouifuf
- 06 Aug 2023
- dSV
Apple is different. They've created a culture around their phones and products. People don't think "I want the IPhone 14 pro max", they think "I want the newest IPhone" I work for a mobile network provider and this ...
- Ouifuf
- 06 Aug 2023
- dSV
Average user upgrades their phone once every 3 and a half years, that's up from 1 and a half-2 years it was a few years ago. People just don't need to upgrade anymore.
- Anonymous
- 06 Aug 2023
- YYX
I think people are just sick of these incrementally updated e-waste devices and tired of little-to-no Android OS/security-patch updates. Apple’s hardware is the best, but they, too, need to change up their design.
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