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Record turnover but decline in service revenue › jojo Reviews

Apple released its current quarterly results Friday evening and presented its revenue and profit for the fourth fiscal quarter of 2022 (pdf download). Apple’s fourth quarter spans the three-month period ending September 24, 2022 and is, as usual, several months ahead of the last quarter of the calendar year.

Record sales thanks to iPhone 14?

Key Info: The past quarter was another record period. At $90.14 billion, Apple deployed more money in each quarter of September than before. Compared to the same period last year, Apple increased sales by more than $7 billion. In 2021, only 83.36 billion was converted in the September quarter – an increase of more than eight percent.

Total turnover Q4 2022 1400

The relatively early start of iPhone 14 sales this year may have provided an extra push. The new model was already available in Apple’s key markets on September 16, rather than falling into the Christmas quarters as usual.

Iphone sales Q4 2022 1400

Decrease in service income

What is striking, however, is the stagnation in Apple’s service revenue, which is largely made up of the revenue generated in the App Store, which also includes subscription services such as Apple Music, Apple TV+ and iCloud+.

Compared to the same quarter of the previous year, Apple increased revenue from $18.27 to $19.18 billion, but still lags behind the $19.8 billion plateau reached in the second quarter.

Service revenue Q4 2022 1400

Apple counteracts this with price increases

But the stock market can be happy, because Apple is already compensating for the decline in sales in the service area. After price increases in the App Store, the prices for the subscription services were also increased a few days ago and new advertising spaces should also provide additional advertising revenue.

What do you think?

Written by Kim Anderson

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