Apple said sales and profit for the quarter ended June 25 were $83.0 billion and $1.20 per share, above estimates of $82.8 billion and $1.16 per share, according to Refinitiv data.
The most recent economic woes include supply chain disruptions from COVID-19 lockdowns in China that have hit production of some Apple products such as iPads and Macs. It will be a key test of whether Apple’s years-long effort to diversify its business beyond the iPhone has paid off. Apple said it now has 860 million paying subscribers on either its paid services or to paid software in its App Store, up from the previous quarter’s 825 million.
“Our June quarter results continued to demonstrate our ability to manage our business effectively despite the challenging operating environment,” Maestri said in a statement.
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