Apple Ups Q3 Services Revenue 12% to $19.6 Billion

Apple July 28 reported third-quarter (ended June 25) services revenue of $19.6 billion, up 12% from revenue of $17.5 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.

The Cupertino, Calif.-based tech giant posted a June quarter revenue record of $83 billion, up 2% from $81.4 billion year over year.
“This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers,” CEO Tim Cook said in a statement. “As always, we are leading with our values, and expressing them in everything we build, from new features that are designed to protect user privacy and security, to tools that will enhance accessibility, part of our longstanding commitment to create products for everyone.”

Meanwhile, iPhone sales increased 3% to $40.6 billion, compared with $39.5 billion in the previous-year quarter — underscoring sustained appeal of the new iPhone 13 model.

Mac sales fell 11% to $7.4 billion, from $8.2 billion a year ago Apple iPad revenue notched down 2% to $7.2 billion, from $7.4 billion. Wearables and home accessories revenue dropped 8% to $8 billion, from $8.8 billion.