Despite a marginal dip of 1% year-over-year (YoY) in revenue for the June quarter, Apple’s performance exceeded many analysts’ predictions. While iPhone sales have seen a slowdown, the continued growth of Apple’s services sector has proved to be a boon.
Tim Cook, Apple’s CEO, announced the milestone of one billion paid subscriptions in a press release. He stated that the Cupertino firm was “happy to report that we had an all-time revenue record in Services during the June quarter, driven by over one billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone.”
He continued: “From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it.”
Apple’s CFO, Luca Maestri, added that the installed base of active Apple devices has also “reached all all-time high in very geographic segment.” While Maestri didn’t disclose the current figure, it was reported in February that Apple had surpassed two billion active devices.
Stay tuned for a comprehensive breakdown of Apple’s fiscal Q3 performance, which includes $81.8 billion in revenue, despite a slight dip in iPhone sales.