Apple, the only large tech company, posted 8 per cent top-line growth in the September quarter to reach USD 90.15 billion.
However, Apple’s Services business unit, which includes the App Store and subscription services such as Apple TV+ and Apple Music, generated revenue of just USD 19.19 billion during the period.
It is about a 5 per cent year-over-year increase in comparison to a 26 percent increase the previous year.
It’s also down USD 416 million from the June 2022 quarter, and it’s down from the Services group’s record USD 19.8 billion in the first three months of the year, as per Variety.
CFO Luca Maestri said Apple’s Services unit is “seeing some softness” in digital advertising and gaming, of late. (With inputs from Agencies)
.
