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Benzinga

Business

Navdeep Yadav

Apple's Services Slowdown Has a Weird Culprit: No F1 Movie This Year

Services Kevan Parekh John Ternus Tim Cook AAPL Apple United States App Store the App Store

Formula One: Lenovo Grand Prix Du Canada 2026 Formula 2

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.

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One subscription that gives you access to news from hundreds of sites

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