Apple’s services revenue reached a record $19.8 billion in the second quarter and reached 825 million paid subscriptions.

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Among record financial second quarterApple also achieved record service revenue, up 17% year-over-year to $19.8 billion. This category, which includes companies such as the App Store, Apple TV+, Apple Music, cloud services and others, has also grown to 825 million paid subscriptions on the Apple platform, up 165 million from the past 12 months, Apple said.

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The company celebrated several of its recent achievements in the services category, including Apple TV+ becoming the first streaming service to win an Academy Award for Best Picture for Coda. Apple also noted that its Apple TV+ shows have received over 240 awards and over 960 nominations to date.

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The streaming service recently added direct sports content with the addition of Friday Night Baseball, which launched earlier this month, along with other new games.

Apple has set an all-time record for revenue in the services category, Apple has set all-time records for the App Store, Apple Music, Apple Care and cloud services. Meanwhile, its video ads and payment services set March quarterly records.

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Apple said it generated $75 billion in service revenue over the past 12 months.

“These impressive results reflect the impact of our continued investment in improving and expanding our service portfolio, as well as the positive momentum we’re seeing on many fronts,” said Luca Maestri, Apple’s chief financial officer.

He attributed the growth to other factors as well, including Apple’s growing device base, which also hit all-time highs in every geographic segment and major product category. In addition, Apple customers are increasingly using the services that Apple offers.

“We have more transactional accounts, more paid accounts, more subscription accounts – the absolute amount of paid subscriptions on our platform is impressive: 825 million. This is an increase of 165 million in the last 12 months alone. So you can even say that this is a great growth,” Maestri said.

The company has also been adding new services over the past few years and plans to “add new services and new features,” he hinted.

While most of today’s Apple services are focused on consumers, Apple said it sees a great opportunity for businesses in the future, following the recent launch of Apple Business Essentials, which was more aimed at the SMB market.

“But we know that the enterprise as a whole as a market is a very interesting market for us, and we put a lot of effort and focus on it. And we think that we have really good opportunities for growth,” Maestri said.

However, Apple warned that while it expects services to continue to grow in double digits next year, it expects service growth to slow from its March quarter due to various factors, including supply chain restrictions affecting Apple’s ability to supply enough products. to meet consumer demand, exchange rates and the suspension of all sales in Russia that occurred in March.

The company said that as a result, the growth rate for the June quarter is expected to be below the 17% it reported in March.


Credit: techcrunch.com /

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