Apple, Apple Music, Apple Tv+, Earnings

Apple, Apple Music

Apple Services Revenue Reaches $18.3B Amid Overall Earnings Miss

Apple Services Revenue Reaches $18.3B in Latest Quarter

10/28/2021 11:37:00 PM

Apple Services Revenue Reaches $18.3B in Latest Quarter

Apple services, which includes Apple TV+, topped Wall Street expectations while total revenue fell short at $83.4 billion.

, the App Store and iCloud, brought in nearly $18.3 billion in revenue, topping Wall Street expectations, during the fourth fiscal quarter of 2021.The tech giant did not disclose the distribution of revenue or exact number of subscribers across its services, but Apple CFO Luca Maestri

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told analysts last quarterthat Apple’s services division had “more than 700 million paid subscriptions.”The fiscal quarter’s services revenue represents almost a 5 percent increase from Q3 and a 26 percent jump year over year. Total revenue for Apple hit $83.4 billion, short of analysts’ expectations but an increase from last quarter’s reported $81.4 billion. Product sales — led by the iPhone — accounted for $65 billion of the company’s Q4 revenue.

During the company’s fall event last week, Apple unveiled new MacBook Pros with M1 Pro and M1 Max chips, the third generation of AirPods and a cheaper version of Apple Music that’s only controlled by Siri. In September, Apple also promoted its iPhone 13 toward

, highlighting the phone’s updated camera and video editing capabilities.Thursday’scome a month after Apple TV+ landed seven awards at the Emmy Awards, three of which went to its hit series Ted Lasso.“Our record September quarter results capped off a remarkable fiscal year of strong double-digit growth, during which we set new revenue records in all of our geographic segments and product categories in spite of continued uncertainty in the macro environment,” Maestri said in a statement on Thursday.

Read more: Hollywood Reporter »


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