Apple recently reported its record quarterly revenue at over $97 billion in Q1 2022, despite the ongoing chip shortage and the supply chain constraints. Now, it isn’t just Apple’s product sales from iPhones and iPads that are making the company all this money. While product sales do account for a large chunk of Apple’s revenue, it is not the only source of revenue for the Cupertino-based giant.
Apple’s services like Apple Music, iCloud, Apple Arcade, Apple TV+ and more also make the company a substantial amount of money. Out of the $97.2 billion revenue, about $19.8 billion came from Apple’s services, while $77.4 came from Apple products like iPhone, iPad, MacBook, AirPods, and more.
Out of the $77.4 billion that Apple made from its products in the first quarter of 2022, about $50.5 billion came from iPhone sales, $10.4 billion came from Mac computers, $8.8 billion was made by selling wearables like Apple Watch and AirPods, and the iPad made the company roughly $7.6 billion in Q1 2022.
Apple last week posted revenue of $97.3 billion and net quarterly profit of $25.0 billion in Q1 2022, or $1.52 per diluted share, compared to revenue of $89.6 billion and net profit of $23.6 billion this time last year. Apple saw growth across its product lines like iPhone, Mac computers, Wearables, and Services, but the company’s popular iPad tablets experienced around a 2 percent decline compared to the same quarter last year.
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