Apple shared its quarterly financial results for the period ending on September 30 with total revenues of $89.5 billion and $22.9 billion in profits. The revenue numbers are down by 1% compared to the same period last year while the net income figure is up 10% on a yearly basis.
The latest generation iPhones contributed $43.8 billion in net sales or nearly 49% of Cupertino’s total quarterly revenue while the services sector which includes the likes of Apple Music, TV+ and iCloud reached a new all-time high $22.3 billion in revenue. Looking through the rest of Apple’s product ecosystem reveals declines in net sales for Macs, iPads and wearables with Mac computers seeing a 51% decline in sales.
The Americas remained Apple’s strongest market with $40.1 billion in net sales, followed by Europe ($22.5 billion) and China ($15.1 billion). Looking ahead Apple is cautious over potential supply chain issues that may delay deliveries of its iPhone 15 Pro and Pro Max flagships though Tim Cook is confident that Apple will “reach a supply-demand balance”.