According to Apple’s fiscal Q2 figures, the business not only reached an all-time high in iPhone revenue in March but also in services revenue. Apple customer subscriptions, which CEO Tim Cook revealed have nearly reached 1 billion, make up a significant portion of the latter.
Cook and Apple CFO Luca Maestri revealed that the App Store, iCloud, advertising, AppleCare, and other services enjoyed unprecedented growth, contributing to the company’s record services revenue of $20.91 billion.
Overall, Cook and Maestri stated that Apple currently has over 975 million active subscribers. That represents an increase of more than 40 million in just three months, while Apple claimed a growth of more than 150 million in the previous year.
Even more astonishing, Maestri said that just three years ago, Apple had less than half of the approximately 1 billion subscriptions it has today.
Apart from mentioning the “more than 2 billion” milestone the business announced back in February, no new information was provided regarding the precise number of active devices.
Maestri emphasised that elements influencing the expansion of the services included a sizable base of active devices, high levels of customer happiness and loyalty, and higher-than-ever engagement.
Tim Cook stated that he believes there are a number of areas where Apple’s services are “underpenetrated” moving forward.
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