Apple has posted an all-time record for its services division, despite criticism over some of its new offerings.
In its latest earnings call yesterday (July 27), the firm announced that it had experienced a quarter of incredible growth, with the division bringing in an eye-watering $17.5 billion between April, May, and June – that’s up 33% from the same quarter last year, and up from the $16.9 billion reported in the last quarter of this year.
The division combines existing services like Apple Music, the App Store, and Apple Pay with newer offerings like Apple News+, Apple TV+, Apple Arcade, iCloud, and AppleCare.
The company’s CFO Luca Maestri revealed that the rise in services revenue was in part thanks to an increase in new device installs in the same period, which reached an “all-time high”. He added that the company now has more than 700 million paid subscribers, up 150 million from last year, and four times higher than the number of subscribers four years ago, demonstrating the incredible growth of Apple Music and its newer services.
Apple’s CEO Tim Cook was keen to highlight the growing success of Apple TV+, which has now received 35 Emmy nominations, and shows like Ted Lasso and The Morning Show now have loyal, global audiences.
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