Apple received $100 billion in revenue from services and more than 1 billion subscriptions

By: Nastya Bobkova | 31.01.2025, 04:30
Revenues from Apple services exceeded all expectations, reaching $26.3 billion Apple's services set record revenue of $26.3bn despite falling iPhone sales. Source: Apple

Despite the decline in iPhone sales, Apple's service division, which includes the App Store, iCloud, Music, TV+ and other subscriptions, continues to grow.

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Apple reported that for the quarter ended 28 December, its service business reached a record revenue of $26.3 billion, up 14% year-on-year. Over the past year, service revenues have approached $100bn. In addition, the company announced more than 1 billion active subscriptions, including third-party applications in the App Store.

User engagement in Apple services, including the number of paid accounts and subscriptions, has grown at a double-digit rate. The main reasons for this growth were the expansion of the Apple Arcade, which is regularly updated with new games. The development of Fitness+, which offers new training programmes. The company also drew attention to the Tap to Pay feature for iPhone, which is now available in 20 countries.

Investors wanted to know how changes in legislation could affect Apple's subscriptions. However, the company's CFO Kevan Parekh avoided a direct answer, noting only that Apple's service business demonstrates strong financial performance and the number of users continues to grow.

Apple continues to defend its position in antitrust cases. Last year, the US Supreme Court refused to review the Epic Games v. Apple case, upholding the decision that the company is not a monopolist. However, the court ordered Apple to allow app developers to add links to third-party payment sites, which could affect the company's future revenues.

Source: Apple