Apple Ups Q2 Services Revenue 27% to $16.9 Billion

Apple Inc. April 28 reported $16.9 billion in second-quarter (ended March 27) revenue for its services segment, which 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. Apple reported services revenue of $13.3 billion during the previous-year period.

Through six months of the fiscal year, services revenue has increased 25% to $32.6 billion, compared with $26 billion the year before.

Overall, Apple results were driven by the iPhone, which saw record quarterly revenue of nearly $48 billion, up 66% from revenue of $28.9 billion a year ago.

“We are proud of our March quarter performance, which included revenue records in each of our geographic segments and strong double-digit growth in each of our product categories, driving our installed base of active devices to an all-time high,” CFO Luca Maestri said in statement. “These results allowed us to generate operating cash flow of $24 billion and return nearly $23 billion to shareholders during the quarter. We are confident in our future and continue to make significant investments to support our long-term plans and enrich our customers’ lives.”

Leave a Reply

Your email address will not be published. Required fields are marked *

sixteen + 8 =

This site uses Akismet to reduce spam. Learn how your comment data is processed.