Apple Quarterly Revenue Dips 5%, as Services Biz Posts Record Sales of $20.8 Billion

Apple missed Wall Street estimates for the last three months of 2022, with sales down 5%, amid iPhone manufacturing disruptions and fell short of Wall Street’s earnings estimates . Apple’s Services segment turned in revenue of $20.8 billion — a quarterly record — but its growth slowed down in the period, to a 6.4% year-over-year increase. The segment includes the App Store, Apple Pay, and subscription services like Apple TV+, Apple Music and iCloud.

Source: Apple Quarterly Revenue Dips 5%, Missing Wall Street Forecasts, as Services Biz Posts Record Sales of $20.8 Billion

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