Apple’s iconic iPhone has experienced a revenue decline for the third consecutive quarter, but the drop in hardware sales has been balanced out by accelerating growth in the company’s services division.
that Apple’s iPhone revenue fell for the third quarter in a row dropping two percent in the period ending in June. Despite the ongoing slump in hardware sales, Apple’s services business, including subscriptions, warranties, licensing fees, and Apple Pay, has emerged as its most profitable arm, showing over eight percent growth in the June quarter.
The services division’s robust performance is not only compensating for the hardware softness but also setting new records. “We set an all-time revenue record for total services and in a number of categories including video, AppleCare, cloud, and payment services,” Cook said. In addition to the services growth, Apple’s deal with Major League Soccer to broadcast its games on Apple TV has been beating internal expectations for subscribers. Cook attributed part of this success to soccer star Lionel Messi, saying, “The fact that Messi went to Inter Miami helped us out there a bit.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple sees sales slump continuing, shares drop 2% despite beating sales expectationsApple on Thursday forecast that a sales slump would continue into the current quarter, sending shares down despite beating Wall Street sales and profit targets in the fiscal third quarter.
Read more »
Apple's sales fall for the third consecutive quarter | CNN BusinessApple said Thursday that its revenue slipped 1% to $81.8 billion for its quarter ending July 1, marking the third consecutive year-over-year drop in quarterly revenue for the world’s most valuable company.
Read more »
Apple's earnings top analysts' forecasts, but year-over-year sales drop for third straight quarterApple’s eked out a slightly higher profit last quarter even though sales dipped during the period, a time during which the iPhone maker became the first publicly held U.S. company in to be valued at $3 trillion.
Read more »
Apple's years of work on generative AI confirmed by Tim CookAI has been developing at such a high speed, and some have wondered why Apple is not participating in the race, leaving the top spots to Microsoft and Google. Well, it turns out Apple is indeed working on generative AI.
Read more »
Tim Cook says he wears Apple Vision Pro headset daily, still no photosInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Tim Cook says Apple's $22.6 billion research spend is down to AIApple has been quiet about ChatGPT. Now Tim Cook says its hefty $22.6 billion research spend is down to generative AI.
Read more »