For the three-month period ending March 26, Apple raked in $97.3 billion, an increase of 9% over the same period a year earlier.
Net quarterly profit increased to $25 billion, up from $23.6 billion in the year-ago quarter.
Apple's increasing investment in services such as the App Store, Apple TV+, Apple Fitness+, Apple News+, and Arcade is paying off, with subscriptions reaching over 400. Revenue for services reached a new high of $19.8 billion.
The company earned a record $50.6 billion in its most recent quarter, up 5.5% over a year earlier, thanks to the success of the iPhone 13 and other models.
Apple's new M1 Macs are performing well, with revenue reaching $10.4 billion, an increase of 14.7% over the same period a year ago.
Apple earned $ 7.7 billion for the quarter, but iPad revenue dropped by 1.9%.
Tim Cook said he was delighted to see the strong customer response to our new products, as well as the progress we are making to become carbon neutral across our supply chain and our products by 2030.
In a call with investors, Cook acknowledged that the ongoing supply constraints impacting Apple and the wider tech industry could reduce revenue by between $4 billion and $8 billion in the current quarter.
Cook said its assembly plants in the Shanghai region had recently reopened after being closed for several weeks due to a COVID outbreak.
Recommended video
All Rights Reserved © 2024
