Apple posts nearly $82B in revenue in April-June period

Apple posts nearly $82B in revenue in April-June period

Company posts all-time revenue record in services during quarter, according to CEO Tim Cook

By Ovunc Kutlu

ISTANBUL (AA) - US multinational technology company Apple saw quarterly revenue of $81.8 billion in the April-June period, according to its financial results statement released Thursday.

The figure is down 1% from the same period last year.

“We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone," said CEO Tim Cook.

Services amounted $21.2 billion for the three months ending June 1, up 8.2% from $19.6 billion in the same period last year.

Net sales of products, on the other hand, were down almost 4.3% at $60.6 billion from $63.3 billion year-on-year. Net income was little changed, coming in at $19.8 billion from $19.4 billion during that period.

iPhone sales fell to $39.6 billion from $40.6 billion. Mac sales declined to $6.8 billion from $7.4 billion, while iPad sales decreased to $5.8 billion from $7.2 billion.

With the decline in sales, Apple's stock price was down 1.7% at $187.93 per share on the Nasdaq as of 4.50 p.m. EDT in after-hours trading, after closing Thursday at $191.17 a share.

Apple had set a quarterly revenue record with almost $83 billion for the three months ending June 25 in 2022, which the firm refers to as the third quarter of its fiscal year.

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