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Apple Services Rake in $19.8B in Revenue as Total Earnings Smash Expectations

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Revenue for the services division, which includes Apple Music, was up from $19.5 billion in Q1.

The company has not disclosed the breakdown of sales across the Apple services division, but it now has 825 million paying subscribers, up from 165 million last year, according to Apple CFO“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” Apple CEOApple is not offering revenue guidance

for the current quarter. In ancall with analysts, Maestri said he expected COVID-related supply chain delays to impact Apple’s ability to meet demand and result in $4 billion to $8 billion in losses. The company’s decision to suspend sales in Russia due to the war in Ukraine is also expected to hinder year-over-year growth in Q3 of the fiscal year, Maestri said., beating out rival streamer Netflix.

 

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Those Chinese cheap labourers working hard at the Apple sweatshops...

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