Apple Services Revenue Hits $17.5 Billion Amid Record Subscriber Growth
Apple's services division generates $17.5 billion in the third fiscal quarter of 2021, marking a 33 percent increase over the previous year. The tech giant also surpasses 700 million paid subscriptions across its various platforms.
Apple's services division achieves a new all-time revenue record of $17.5 billion in the third fiscal quarter of 2021. This impressive figure represents a 33 percent increase compared to the $13.2 billion earned in the same quarter last year. Cloud services, Apple Music, advertising, video, and payments all reach individual revenue records, while the App Store sets a new high specifically for the June quarter.
The continued financial success stems directly from Apple's expanding device install base, which hits an all-time high during the period. Subscribers flock to the company's digital ecosystem, pushing the total number of paid subscriptions past 700 million. This milestone reflects an addition of 150 million subscribers over the past year and shows a fourfold increase compared to the subscription count from four years ago.
Geographic segments across the globe see double-digit increases in paid accounts, contributing significantly to the overall services boom. Apple CEO Tim Cook points to the company's original content efforts as a major driver for this engagement, noting that Apple TV+ receives 35 Emmy nominations. Viewers show strong enthusiasm for popular original series like "Ted Lasso" and "Mythic Quest."