Apple sets record for digital services sales in Q1 2023
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American Apple Corporation announced financial results for the 2nd quarter of the financial year 2023 (1st quarter of 2023). According to the company’s release, quarterly revenue amounted to $94.8 billion, which is 3% less than in the same period last year.
Net profit reached $ 24.2 billion. At the same time, Apple set a quarterly record for revenue from the sale of the iPhone and an all-time high for services.
“We are excited to report a record service performance and March quarterly record for iPhone, despite a challenging macro environment, and that our installed base of active devices has reached an all-time high,” said Apple CEO Tim Cook.
Apple’s revenue from the sale of services (Apple Music, App Store, iCloud) increased by 5.5% to $ 20.9 billion in the quarter – this is an absolute record. This indicator was achieved due to more than 975 million paid subscribers to the company’s digital services.
iPhone sales generated $51.33 billion for Apple in the first quarter of 2023. Mac profits (including MacBooks) decreased 31% yoy to $7.17 billion.
Earnings from the iPad fell 31% to $6.67 billion. Wearables and accessories brought in $8.76 billion, with sales down 0.6%.
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