Apple on Thursday reported a blowout quarterly earnings report, beating Wall Street revenue and EPS estimates, with its Services division (which includes Apple TV+, Apple Music, Apple Arcade, Apple Fitness+, Apple News+, Apple Podcasts, iCloud storage, AppleCare, Apple Books, Apple Card, and more) hitting another new all-time quarterly record with $22.314 billion in revenue.
Alex Weprin for The Hollywood Reporter:
In total, Apple delivered revenues of $89.5 billion in its fiscal Q4, with profits of $23 billion, reflecting strong demand for its iPhone line.
“Today Apple is pleased to report a September quarter revenue record for iPhone and an all-time revenue record in Services,” said Tim Cook, Apple’s CEO, in a statement.
“We achieved all time revenue records across App Store, advertising, AppleCare, iCloud, payment services and video, as well as the September quarter revenue record on Apple Music,” Cook added on the earnings call… “We’re telling impactful stories that inspire imagination and stir the soul,” Cook said. “Making movies that make a difference is also at the heart of Apple TV+, and we were thrilled to produce Martin Scorsese’s Killers of the Flower Moon, a powerful work of cinema that premiered in theaters around the world last month.”
Apple CFO Luca Maestri added on the call that Apple’s services division now has “well more than one billion” subscribers.
MacDailyNews Take: You know, because Apple is doomed.
For some perspective, Apple’s Services revenue for fiscal 2023 totaled $85.2 billion. If Apple Services were its own company, it’d be larger than Disney. On the Fortune 500, it’d be 47th, ahead of Wells Fargo.
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