How does Apple make its money

Five charts to start your day

Apple’s latest earnings showed a 4% revenue boost to $124.3bn, driven by a 14% jump in Services – that’s the App Store, Apple TV+, Apple Music, and more. This is good news for Apple, which relies on higher margins from its services to offset flat product sales.

The iPhone missed forecasts, dipping 1% compared to last year, though Mac and iPad did well, climbing double digits. China was a sore spot, down 11%, partially due to inventory issues and stiff competition from local smartphone brands.