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Apple Services Q4 Revenue Up 26% to $18.3 Billion

Apple Oct. 28 reported fourth-quarter (ended Sept. 25) services revenue of $18.3 billion, up 26% from revenue of $14.5 billion during the previous-year period. Services revenue includes sales of movies and TV shows on iTunes, the App Store, Mac App Store, Apple Music, Apple Pay, Apple TV+, Apple Arcade and Apple News+, among others.

For the fiscal year, services revenue spiked 27% to $68.4 billion, from $53.7 billion a year ago. Quarterly margins in the segment remained strong, generating almost 70% in gross income in the quarter, up slightly from 67% in the previous-year quarter.

Meanwhile, iPhone sales skyrocketed 47% to $38.8 billion, compared with $26.4 billion in the previous-year quarter — underscoring the appeal of the new iPhone 13 model. For the fiscal year, iPhone revenue reached $192 billion, up more than 39% from $137.7 billion a year ago.

Mac sales increased 2% to $9.2 billion, from $9 billion a year ago. Apple iPad revenue increased 21.5% to $8.2 billion, from $6.8 billion. Wearables and home accessories revenue rose 11.5% to $8.7 billion, from $7.8 billion.

The record September revenue of $83.4 billion, up 29% year-over-year, prompted CEO Tim Cook to look beyond the finances, focusing on Apple’s loftier goals.

“We are infusing our values into everything we make — moving closer to our 2030 goal of being carbon neutral up and down our supply chain and across the lifecycle of our products, and ever advancing our mission to build a more equitable future,” Cook said in a statement.

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