Apple's services segment maintains explosive growth in Q4

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Apple continues to see double-digit growth in services as revenue for that segment broke records for Q4 2021 and has nearly tripled in six years to $18.3 billion.

Despite a number of headwinds, Apple managed to earn $83.4 billion during the fourth quarter of 2021, breaking it's quarterly revenue record yet again. The services segment earned $18.3 billion thanks to growth in every segment category and more paying subscribers to content and apps.

Chief Financial Officer Luca Maestri broke down the services segment, stating that every segment including cloud services, music, video, and the App Store grew during the quarter. Specifically, the App Store saw a record September quarter overall.

Paid accounts for services like Apple Music or subscriptions in the App Store grew double digits in each geographic segment. In total, Apple says it has 745 million paid subscribers, which is up 160 million from Q4 2020.

Services revenue per quarter
Services revenue per quarter

Finally, Apple says it expects services growth rate to decelerate in Q1 2022, but demand will remain strong. Each of Apple's segments will see an impact from the supply chain shortages impacting major technology companies.