During today's third quarter earnings call, Apple announced its second consecutive year-over-year revenue drop, but amid the decline, the company's services category saw significant growth based on strong App Store performance.
Services revenue was up 19 percent year over year, and according to Apple CEO Tim Cook, Apple saw its highest App Store revenue ever, setting a new all time high. Compared to the year-ago quarter, App Store growth was up an impressive 27 percent, with iCloud, AppleCare, and Apple Music also seeing notable growth.
Over the course of the last 12 months, Apple's services revenue is up $23.1 billion, and next year, the company expects revenue from services to "be the size of a Fortune 100 company."
Growth was fueled by Apple's active install base, which brought in $10.3 billion dollars during the quarter, marking 29 percent growth year-over-year. Apple CFO Luca Maestri said the company set a new record for customers making purchases through the iTunes and App Store, and the average amount spent per customer was the highest Apple has ever measured.
App Store revenue has climbed consistently over the last four consecutive quarters and Cook said he expects the services category to continue to grow "very briskly."
Services revenue was up 19 percent year over year, and according to Apple CEO Tim Cook, Apple saw its highest App Store revenue ever, setting a new all time high. Compared to the year-ago quarter, App Store growth was up an impressive 27 percent, with iCloud, AppleCare, and Apple Music also seeing notable growth.
Over the course of the last 12 months, Apple's services revenue is up $23.1 billion, and next year, the company expects revenue from services to "be the size of a Fortune 100 company."
Growth was fueled by Apple's active install base, which brought in $10.3 billion dollars during the quarter, marking 29 percent growth year-over-year. Apple CFO Luca Maestri said the company set a new record for customers making purchases through the iTunes and App Store, and the average amount spent per customer was the highest Apple has ever measured.
App Store revenue has climbed consistently over the last four consecutive quarters and Cook said he expects the services category to continue to grow "very briskly."
Tag: App Store
23 comments
Top Rated Comments
(View all)
38 months ago
Services are of course the future of Apple. Apple Music, Apple Pay, Apple Car (sharing, etc.) and the good old App Store.
It's a steady income stream that requires little effort & cost, especially when compared to the R&D that goes into hardware & software development.Thing is though, if people stop buying the hardware, the stream can and will eventually dry up.
Apple last week unveiled Project Catalyst, an initiative designed to allow developers to port their iPad apps to the Mac.
At the time, Apple named several partners, including Twitter, and today,...
Apple retail stores and the Apple online store are now carrying the Activ5, a fitness device designed by Activbody.
Described as a portable isometric-based strength training device with digital...
Apple and Madonna have teamed up to launch new Today at Apple Music Lab classes where attendees will go hands-on with Crave, a track from Madonna's latest album, and will be able to remix it.
...
Mattel's Hot Wheels brand is getting a major digital upgrade with the launch of the Hot Wheels Smart Track Kit, Race Portal, and Hot Wheels id vehicles, all of which are available exclusively...
Huawei today confirmed it is delaying the launch of its Mate X foldable smartphone from June to September for quality assurance purposes.
Huawei's Mate X
A spokesperson for Huawei said the...
As part of the deal allowing cable companies Comcast and Charter to sell iPhones for their respective mobile services, Apple has required them to also sell large numbers of other devices, reports...
Apple at the 2019 Worldwide Developers Conference introduced watchOS 6, the latest version of the software designed for the Apple Watch. watchOS 6 brings some notable improvements to watchOS,...
Apple today released a new macOS Mojave 10.14.5 Boot camp update, which is designed to address a bug that prevented the creation of a new Boot Camp partition on a iMac or Mac mini with a Fusion...
