Published , by Donovan Erskine
Published , by Donovan Erskine
Apple’s (AAPL) Q4 2023 earnings report brought a heap of fascinating details about the massive tech company. In addition to learning that Apple beat on revenue and EPS, there was also some additional insight about the performance of Apple’s various products compared to the previous fiscal year. Mac, iPad, and Wearables were all down in revenue compared to last year.
The news about Apple’s Mac, iPad, and Wearables divisions can be found on the first page of its Q4 2024 earnings report. For the full fiscal year 2023, iPhone made $200.6 billion in revenue, down from the $205.5 billion that iPhone made in 2022. Mac’s $29.4 billion is down significantly from last year’s $40.2 billion, and iPad also saw a narrow drop going from $29.3 billion to $28.3 billion in year-over-year comparisons. Lastly, Wearables, home, and accessories tallied $39.8 billion in revenue this year, a drop from $41.2 billion in 2022.
Interestingly enough, services was the only category that saw an increase in revenue compared to last year. Services accounted for $85.2 billion in revenue in 2023, up from $78.1 billion in 2022. On the corresponding earnings call, Apple CEO Tim Cook attributed some of the revenue decreases to record financial performances last year in tandem with economy-related struggles this year. Still, Apple boasted a record September in its Q4 2023 earnings report.
This is just one tidbit from Apple’s Q4 2023 earnings report, which also included the fact that iPhone sales saw a minimal increase in year-over-year comparisons. For more on Apple and the rest of the business world as it relates to technology, Shacknews has you covered.