Apple Services Revenue Hits $22.3 Billion, a New Record, as Tech Giant Beats Wall Street Expectations on Strong iPhone Sales
variety.comTodd Spangler NY Digital Editor Apple‘s services segment continues to record healthy gains, increasing 16.3% for the September quarter to reach a record $22.3 billion, while it also reported a 2.8% lift in iPhone sales.
Overall, Apple posted revenue of $89.50 billion (down 1%) and net income of $22.96 billion (up 11%), translating to earnings per share of $1.46, for the quarter ended Sept.
30. That beat Wall Street consensus estimates for $89.28 billion in revenue and EPS of $1.39, per data compiled by Refinitiv.
The company’s services revenue came in nearly $1 billion over analyst forecasts of $21.35 billion. The segment includes the App Store, Apple Pay, Apple Card and subscription services such as Apple TV+, Apple Music, Apple Arcade and iCloud.
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