Amber Neely
Apple continues to see growth in Services across iCloud, music, Apple TV+, and the App Store, reaching a record 816 million in Q3.
During Thursday's earnings report, Tim Cook said Apple has 816 million current paid subscriptions, which includes anyone who subscribes to an app sold on the Apple App Store in addition to products such as Apple Music and iCloud.
In January, Luca Maestri, Chief Financial Officer and Senior Vice President of Apple, reported that Apple had a total of 785 million subscribers.
In May, Eddy Cue, Apple's senior vice president of Services, was reportedly working to shake up the company's lucrative Services business. The company has allegedly identified streaming and advertising as two areas for revenue growth.
Services has been a steady money maker for Apple over the years. In Q2 2022, the segment brought in $19.8 billion, up year-over-year from $17 billion.
Apple is also working on bringing more services to the table, including a potential "buy now, pay later" financial service and an Instacart-style grocery ordering service with an emphasis on nutrition.
Andrew Orr
William Gallagher
Christine McKee
AppleInsider Staff
Chip Loder
9 Comments
Where is the Apple fitness logo at the top of the story?
So is there only an "earrings report" this time and no "earning call" ? Will there be a call later ? Did I miss some announcement ?
Is that why AI's coverage is minimal this time ?
Granted the record is not quite the blowout of others but still, the stock is trading at around +3% in after hours trading, more than 3 hours after the report and AI usually has more detail and reports on the Q&A of the call.
30 million more subscribers, not subscriptions: 30 million Apple device owners buying services for the first time this quarter.
30 million new subscriptions would be inconsequential considering there are more than 1 billion discrete Apple customers: would mean less than 3% of Apple customers purchased new services.
I was one of those. I added AppleTV+, for a month.