Apple Q2 revenues shrink, but services now boast over 1 billion subscriptions

Apple reported $81.8 billion in quarterly revenues for the April, May and June months which is a 1.4% dip compared to the same period last year. The Q2 months traditionally see plummeting sales figures as consumers await the next generation of iPhones set to release in the Fall period.

Net income stood at $19.88 billion while earnings per diluted share rose to $1.26. Cupertino saw an impressive $21.2 billion in revenue from its Services sector which includes the App Store and all subscription-based services with over 1 billion paid subscriptions for the period.

Apple Q2 revenues shrink while services now boast over 1 billion subscriptions

On the other end, iPhone, iPad and Mac sales were all down. In an interview with CNBC, Tim Cook confirmed that sales of the iPhone 14 series were down 2% compared to last year. iPad sales were down 20% on a yearly basis. The wearables, home and accessories was the only category that saw a rise in sales.


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