Apple announces 860 million paid subscribers to its services

Apple has just released its financial results for the 3rd quarter of 2022. According to the press release, the firm generated record revenue of $83 billion over the period, up 2% from the previous year. . However, the game was far from over. In the United States as in a large part of the world, inflation invites itself into the results of large companies.

Difficulties which are added to disruptions in supply chains, against a background of shortage of components. For the financial manager of the firm Luca Maestri, these results “continue to demonstrate our ability to manage our business effectively, despite the real challenges posed by the current operating environment”.

Apple still manages to achieve a record quarter, against all odds

The manager adds “During the quarter, we generated almost $23 billion in cash from operations, distributed $28 billion to our shareholders while continuing to invest in our long-term growth plans”. The firm also declares a dividend of $0.23 per share payable on August 11, 2022.

The iPhone unsurprisingly remains one of the engines of Apple’s financial health. However, when we look at the details of the figures communicated by the firm, we realize that net product sales have fallen from one year to the next. Unlike sales of services.

iPhone sales are said to have fallen by 2.5% – while those of Macs, iPads, Wearables, HomePods and other accessories are hurting the balance sheet amid supply constraints and other macroeconomic factors.

Fortunately Apple has succeeded in the space of 12 months in recruiting 160 million additional paying subscribers to its services, which has enabled the firm to smooth out these difficulties, even being able to transform this quarter into a particularly good year.

Read also – Apple Music, TV, Arcade… Apple is reaping the benefits of its services

The firm has also revealed that it has more than 860 million paying subscribers to date. Apple does not provide any details that would help determine with certainty what appealed to customers the most. Lucas Maestri was content to say, during a conference call, that the Apple TV + and Apple Arcade offer are currently experiencing strong growth.

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