Apple Services business has now grown to become one of the company’s most lucrative segments, with revenue surpassing that of major corporations, generating more revenue than McDonald’s and Nike combined.
Justinas Baltrusaitis for Finbold:
In particular, data acquired by Finbold on February 9 indicates that Apple Services recorded a revenue of $79.4 billion in 2022. The revenue emanated from services including Apple iCloud, Apple TV+, Apple App Store, Apple Music, Apple Arcade, and Apple Fitness+.
The revenue by Apple Services exceeded that of several established Fortune 500 companies. Apple Services surpassed aerospace manufacturer Boeing, which recorded a revenue of $66.6 billion in 2022. Among the selected companies, Intel recorded $63.1 billion, followed by Nike at $49.1 billion. American Airlines, with a revenue of $49 billion.
Other companies trailing Apple Services include beverage giant Coca-Cola at $42.3 billion, Netflix at $31.6 billion, and McDonald’s at $23.3 billion. Interestingly, Apple Services’ revenue for 2022 was more than that of McDonald’s and Nike combined which stood at $72.3 billion.
MacDailyNews Take: Perspective can be dizzying.
Those who can wrap their heads around Apple’s massive cash mountain and the company’s unparalleled ability to generate cash can clearly see who the winner will be. – MacDailyNews, January 3, 2018
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