New All-Time Revenue Record of $93.7 Billion

As we noted earlier, Apple surpassed analysts’ estimates this quarter, with a new all-time revenue record of $93.7 billion for the quarter. That’s up from $89.6 billion during the year-ago quarter.

It’s a smaller year-over-year increase than Q2 2021 was, but it’s still an increase, and it’s coming at a time when Apple is facing supply constraints on all fronts and therefore having a hard time cranking out enough iPhones, iPads, and Macs to keep up with customer demand.

Once again, Apple showed double-digit growth over last year’s quarter in every category except for the iPhone, which grew only by 5.5%, while the iPad saw a 2.1% slump in sales.

1. iPhone: $50.6 billion (5.5% growth)
2. Mac: $10.4 billion (14.6% growth)
3. iPad $7.6 billion (2.1% down)
4. Wearables, Home, and Accessories: $8.8 billion (12.4% growth)
5. Services: $19.8 billion (17.3% growth)
   

Thanks no doubt to the Apple Silicon transition; the Mac remains the fastest growing product category in Apple’s lineup, second only to its Services, which continue to show no sign of slowing down.