Apple Inc.
(NASDAQ:AAPL) said its red-hot Services division lost some momentum in the fiscal third quarter, with CFO Kevan Parekh pointing to an unusual culprit: there was no blockbuster "F1" movie release this year to boost Apple TV+ revenue.
Apple's fiscal third quarter, ended June 27, Services revenue came in at $30.7 billion, up 12% year-over-year and a June-quarter record.
But that's a sharp deceleration from the 16% growth Apple posted just one quarter earlier — and CFO Parekh went out of his way to explain why on Wednesday's earnings call.
What's Behind the Slowdown?
