Apple Services Revenue Climbs 17% to Record $19.8 Billion, as iPhone Growth Slows
Todd Spangler NY Digital EditorApple’s digital services businesses fueled top-line growth in the first three months of 2022, as overall the tech giant handily topped analyst projections despite supply-chain challenges.The services segment — which includes the App Store, Apple Music, Apple TV+, iCloud and other subscription businesses — notched a record $19.8 billion in sales, up 17%.Click here to sign up for Variety’s free Strictly Business newsletter covering earnings, financial news, and more.Sales of iPhones, Apple’s biggest product line, were $50.6 billion in the period, up 5.4%, a slowdown compared with a nearly 66% boom in the year-ago quarter. Overall, the company reported $97.3 billion, up 9% year over year and a record for a March quarter, and quarterly earnings per diluted share of $1.52.