Apple Continues to Break Revenue Records in Q3 2022

Though Mac and wearable revenues took a sharp decline.

Tech 
2,500 Hypes 1 Comments

Apple recently posted its third quarter financial report. This year, the tech giant has reported a record $83 billion USD revenue, a 2% increase from the same time last year.

Despite having record-breaking revenues, Apple has also reported a steep decline in profits by 11%. The iPhone saw a growth in sales while revenues from Macs and wearables like the Apple Watch also saw a drop. Recently, Apple announced that it will be releasing 14-inch and 16-inch MacBook Pros with the M2 chip soon. Revenues for Macs are expected to increase next quarter when the new releases are made available, with the hope that consumers are holding out for upgraded product

In a press release, CEO Tim Cook said, “This quarter’s record results speak to Apple’s constant efforts to innovate, to advance new possibilities, and to enrich the lives of our customers.” During Apple’s earnings call, Cook also mentioned that June set a record regarding “both revenue and switchers to iPhones.” Over the year, iPhones have grown from $39.6 billion USD to $40.7 billion USD. Revenues for wearables saw a decline to $8.1 billion USD, down 8% from the same time last year. Apple also hit an all-time record for “installed base of devices in the category.” It was noted that two-thirds of the people who purchased an Apple Watch were new users. It remains to be seen if the revenues of wearables and Macs will increase in the following quarter.

In other tech news, TikTok could be launching its own music streaming service.

Read Full Article

What to Read Next

'BTS Radio' Breaks 2022 Apple Music Record
Music

'BTS Radio' Breaks 2022 Apple Music Record

Becoming the biggest show of the year.

Apple Beats Expectations in Q2 With $97 Billion USD Revenue
Tech

Apple Beats Expectations in Q2 With $97 Billion USD Revenue

Wearables sales alone jumped nearly $3 billion USD.

Apple to Reportedly Introduce a "Pro" Tier for Apple Watch Starting at $900 USD
Tech

Apple to Reportedly Introduce a "Pro" Tier for Apple Watch Starting at $900 USD

Possibly costing around the same price as an iPhone Pro.


Tesla Doubles Revenue and Reports Record Margins for Q1 2022
Automotive 

Tesla Doubles Revenue and Reports Record Margins for Q1 2022

With a revenue increase of $18.7 billion USD despite inflation.

Stüssy Announces Collaborative Nike Apparel Capsule
Fashion

Stüssy Announces Collaborative Nike Apparel Capsule

Launching alongside the duo’s Air Max 2013 colorways.

Ryuichi Ohira’s Wooden Sculptures Take Over NANZUKA UNDERGROUND
Art

Ryuichi Ohira’s Wooden Sculptures Take Over NANZUKA UNDERGROUND

On view in Tokyo until September 4.

The Air Jordan 37 "Hare" Has an Official Release Date
Footwear

The Air Jordan 37 "Hare" Has an Official Release Date

Arriving in late September.

DeMar DeRozan Signs Four-Year Deal With Nike to Remain Face of Kobe Line
Footwear

DeMar DeRozan Signs Four-Year Deal With Nike to Remain Face of Kobe Line

The Chicago Bulls star will continue to debut new Nike Kobe looks.

Shikeith Releases First Monograph
Art

Shikeith Releases First Monograph

Documenting his Performa 2021 series, ‘Notes Towards Becoming a Spill.’


Crushed D.C.'s Nike SB Dunk Low Comes Styled With Marbled Swooshes
Footwear

Crushed D.C.'s Nike SB Dunk Low Comes Styled With Marbled Swooshes

The skate shop also whips up the outsoles with NikeGrind materials.

adidas and Thebe Magugu Unveil Vibrant Debut Collaboration
Fashion

adidas and Thebe Magugu Unveil Vibrant Debut Collaboration

Featuring multicolored apparel and footwear.

Reebok’s Question Mid PS "Orange Flare" Is Too Cool for School
Footwear 

Reebok’s Question Mid PS "Orange Flare" Is Too Cool for School

Available exclusively in preschool sizing.

Award-Winning Choreographer JaQuel Knight Teams Up With H&M As the New Face of Its H&M Move Campaign
Fashion

Award-Winning Choreographer JaQuel Knight Teams Up With H&M As the New Face of Its H&M Move Campaign

The brand is launching a new product line of ‘movewear’ for men, women and kids on August 4.

On-Feet Look at the Nike Dunk Low "Sesame"
Footwear

On-Feet Look at the Nike Dunk Low "Sesame"

Gearing up for the Fall rotation.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Looks like you’re using an ad-blocker

We charge advertisers instead of our readers. Support us by whitelisting our site.

Whitelist Us

How to Whitelist Us

screenshot
  1. Click the AdBlock icon in the browser extension area in the upper right-hand corner.
  2. Under “Pause on this site” click “Always”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlock Plus icon in the browser extension area in the upper right-hand corner.
  2. Block ads on – This website” switch off the toggle to turn it from blue to gray.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the AdBlocker Ultimate icon in the browser extension area in the upper right-hand corner.
  2. Switch off the toggle to turn it from “Enabled on this site” to “Disabled on this site”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the Ghostery icon in the browser extension area in the upper right-hand corner.
  2. Click on the “Ad-Blocking” button at the bottom. It will turn gray and the text above will go from “ON” to “OFF”.
  3. Refresh the page or click the button below to continue.
screenshot
  1. Click the UBlock Origin icon in the browser extension area in the upper right-hand corner.
  2. Click on the large blue power icon at the top.
  3. When it turns gray, click the refresh icon that has appeared next to it or click the button below to continue.
screenshot
  1. Click the icon of the ad-blocker extension installed on your browser.You’ll usually find this icon in the upper right-hand corner of your screen. You may have more than one ad-blocker installed.
  2. Follow the instructions for disabling the ad blocker on the site you’re viewing.You may have to select a menu option or click a button.
  3. Refresh the page or click the button below to continue.