Apple Reports All Time High Quarterly Revenue and Profit Gains

Apple reported record revenue and profit for the last quarter of its latest fiscal year. Apple’s quarterly revenue was at an all-time high of $90.1 billion, which was an 8% increase compared to last year. Net income increased to $20.72 billion, and earnings per share reached $1.29.

Strong iPhone Sales

Apple’s revenue grew by 9.6% to reach $42.63 billion thanks to the recent iPhone 14 launch. The company’s Services category generated $19.18 billion in revenues while Mac revenues accounted for $11.5 billion. US was Apple’s biggest market yet again in terms of net sales valued at $38.8 billion.

USB C iPhones Confirmed

New USB C iPhones are coming eventually due to new laws for electronic devices in the EU. This was confirmed by Apple’s VP of worldwide marketing, Greg Joswiak. “Obviously, we’ll have to comply; we have no choice,” he said when asked about the change.

But there is no confirmation that this will be the case for the U.S. yet.