Apple's Earnings Decline Last Quarter With Mac Business Hardest Hit

 

You want proof that the world economy is still not fully recovered? This week several well-known companies announced their financial statements for Q3 2023. The average recorded a decrease compared to the same quarter last year. Apple was also affected with a 2.5% reduction in revenue compared to Q3 2022.

Only the iPhone business and services recorded an increase of 2.8% and 16.3%. Meanwhile, the Mac computer business shrank by 34% and the iPad shrank by 10%. iPhone alone recorded revenue of $43.81 billion while services accounted for $22.35 billion. This was helped by the good response to the iPhone 15 series and the recently increased subscription prices of Apple One, Apple Cloud, Apple TV+ and Apple Music.