Apple Misses Earnings Expectations, But Sets Revenue Record For Services Business

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Apple Services, which encompasses Apple TV+, Apple Music, Apple Arcade and more, came in at $20.8 billion for the three months ended Dec. 31, up from $19.5 billion a year earlier.

“We set an all-time revenue record of $20.

8 billion in our Services business, and in spite of a difficult macroeconomic environment and significant supply constraints, we grew total company revenue on a constant currency basis,” said Luca Maestri, Apple’s CFO. “We generated $34 billion in operating cash flow and returned over $25 billion to shareholders during the quarter while continuing to invest in our long-term growth plans.”

 

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