Business

Apple sets record March quarter in revenue with iPhone, Mac sales

Services generate all-time revenue record of $19.8B

US-based tech giant Apple set a record March quarter in revenue with strong sales of iPhones, Macs, wearables, home devices, and accessories.

The company had almost $97.3 billion in total net sales for the three months ending in March, referred to as its fiscal 2022 second quarter, according to a financial results statement released late Thursday.

This amount is an 8.6% increase over $89.6 billion in the same period last year, the highest revenue for a March quarter in the company’s history.

Net iPhone sales grew 1.2% to almost $50.6 billion, from $50 billion, year-on-year, while Mac sales jumped 14% to $10.4 billion, from $9.1 billion.

Wearables, home devices, and accessories tallied $8.8 billion a 13% annual increase from approximately $7.8 billion.

Services – including the App Store, Apple Music, Apple Pay, and iCloud generated an all-time revenue record of $19.8 billion in the first three months of 2022, up 17% from $16.9 billion in the same period of last year.

“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” said CEO Tim Cook, underlining the strong customer response to Apple’s new products.

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