Apple also published their financial report for Q3 2023 this morning. Like other major technology companies, Apple also showed declining revenue in several business segments.
Overall Apple recorded revenue of $81.8 billion and profit of $19.9 billion in Q3 2023 compared to revenue of $83 billion and profit of $19.4 billion in Q3 2022. iPhone revenue shrank 2.4%, iPad shrank 19.8%, and Mac shrank 7.3%.
Wearables, home and accessories revenue however rose 2.5%. More interesting is that Apple's services business posted a healthy 8% increase cementing its position as the company's second largest revenue contributor behind the iPhone. Apple also announced they now have more than 1 billion customers paying for their monthly service.
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