Apple Ups Q1 Services Revenue 24% to Record $19.5 Billion

Apple Jan. 27 reported first-quarter (ended Dec. 25, 2021) services revenue of $19.5 billion, up 24% from revenue of $15.8 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.

The Cupertino, Calif.-based tech giant posted an all-time quarterly revenue record of $123.9 billion, up 11% year-over-year from $111.6 billion.
“This quarter’s record results were made possible by our most innovative lineup of products and services ever,” CEO Tim Cook said in a statement. “We are gratified to see the response from customers around the world at a time when staying connected has never been more important.”

Meanwhile, iPhone sales increased to $71.6 billion, compared with $65.5 billion in the previous-year quarter — underscoring the appeal of the new iPhone 13 model.

Mac sales increased 25% to $10.8 billion, from $8.6 billion a year ago. Apple iPad revenue fell almost 15% to $7.2 billion, from $8.4 billion. Wearables and home accessories revenue rose 14% to $14.7 billion, from $12.9 billion.

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