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Apple Posts All-Time Quarterly Record Services Record of $23.1 Billion Media Play News

February 1, 2024

Apple Feb. 1 reported all-time record quarterly services revenue of $23.1 billion for the fiscal period ended Dec. 31, 2023. The tally was up more than 11.6% from revenue of $20.7 billion during the previous-year period. Net income increased more than 13% to $39.9 billion from revenue of $119.6 billion. The tech giant posted net income of $29.9 billion on revenue of $117.1 billion year over year.

Services revenue includes sales of movies and TV shows on iTunes, the App Store, Mac App Store, Apple Music, Apple Pay, Apple TV+, Apple Arcade and Apple News+, among others.

Apple said its installed base of consumer electronics devices topped 2.2 billion — an all-time high across all products and geographic segments.

CFO Luca Maestri said Apple generated nearly $40 billion of operating cash flow, and returned almost $27 billion to shareholders.

“We are confident in our future, and continue to make significant investments across our business to support our long-term growth plans,” he said in a statement.

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Erik Gruenwedel

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