Apple sold less hardware last quarter, sets record with services

Apple achieved a turnover of just under 74.76 billion euros in the past quarter. That is a small decrease compared to the same quarter last year, caused by a decrease in hardware revenue. However, a turnover record was set with services.

From Apples quarterly figures The third quarter of the 2023 financial year ended on July 1 shows that approximately 55.37 billion euros were earned from the sale of hardware, of which more than 65 percent consists of iPhones. Hardware revenue decreased by more than 4.5 percent compared to the same quarter last year.

At the same time, turnover from services such as Apple TV+, Apple Music and Apple Arcade increased by more than 8 percent to around 19.20 billion euros. According to Apple, that is a record. In total, on the other hand, turnover decreased slightly due to declining hardware sales. Net profit rose by several percent.

Looking at hardware sales, a clear trend can be seen regarding iPads; revenue from the sale of iPads decreased by almost 20 percent in the past quarter compared to the same quarter last year. Last year, revenue from sales of Macs and wearables also fell significantly. That is less of an issue this year. Within those categories, turnover decreased by 6.6 percent and 2.5 percent respectively.

As it stands now, Apple will perform slightly less well this fiscal year than last year. In terms of both turnover and net profit, the company has so far earned several percent less than in the same period last year.