David Hanak Apple yesterday shared the economic results of its offered services. This category includes all possible paid services that Apple offers to its users. This means iTunes, Apple Music, iCloud, App Store, Mac App Store, but also Apple Pay or AppleCare or . For the past quarter, this segment of Apple earned the most in its history.
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Dan Pražák Apple earned $11,46 billion for its "Services" in the April-June period. Compared to the first quarter, this is an increase of "only" 10 million dollars, but year-on-year revenue from services increased by more than 10%. Once again, this is proving to be an increasingly important source of revenue, especially given the continuing decline in iPhone sales.
In the past quarter, Apple surpassed the goal of 420 million subscribers who pay for some of the services offered. According to Tim Cook, Apple is well on its way to reaching its goal, which is a profit of 14 billion dollars (per quarter) from services by 2020.
In addition to Apple Music, iCloud and the (Mac) App Store, Apple Pay mainly contributes to the big earnings. This payment service is currently available in 47 countries around the world and its use is constantly growing. In the US, the possibilities of paying via Apple Pay, for example, for public transport, are starting to appear. News in the form of Apple News+, or the upcoming Apple Arcade and Apple TV+ also contribute to revenue from services. We must also not forget about the upcoming Apple Card, although only available in the USA.
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Amaya Toman Apple is doing very well in the market with so-called wearable devices, which include, for example, the Apple Watch and AirPods. The segment earned $5,5 billion in Apple's most recent quarter, a significant year-over-year increase from $3,7 billion. Sales of Apple Watch and AirPods thus also compensate to some extent for falling sales of iPhones.
These were sold for 26 billion dollars in the past quarter, which is a year-on-year decrease from 29,5 billion. The wearables category is the biggest year-over-year jump, as there was a more than 50% increase in sales. It turns out that Tim Cook obviously knows what he's doing. Although he did not succeed in stopping the declining sales of iPhones, on the contrary, he found new segments in which Apple brings huge sums of money. This trend can be expected to continue in the future. Sales of physical products will gradually decline (even the Apple Watch will reach its peak one day) and Apple will become more and more "dependent" on accompanying services.
