Apple's Services Revenue Up 24% on App Store, Apple Pay, and Apple Music Growth
During today's fourth quarter earnings call, Apple CEO Tim Cook highlighted the significant growth Apple saw in its services category, which is up 24 percent year over year.
In the quarter, Apple's services segment, which consists of the App Store, iTunes, Apple Music, Apple Pay, AppleCare, and more, brought in $6.3 billion, up from $5 billion in the year-ago quarter.
According to Cook, services growth is driven by continued increases in App Store revenue and the increasing popularity of Apple Music. Revenue from Apple Music was up 22 percent in Q4 2016 compared to Q4 2015, while the App Store saw its fifth consecutive quarter of growth.
Apple Pay is also seeing steady growth. Apple Pay transactions are up over 500 percent, and in September of 2016, Apple saw more Apple Pay transactions than across all of fiscal 2015.
All in all, Apple has nearly doubled services revenue in the last four years and expects the services category to reach the size of a Fortune 100 company in 2017.
Popular Stories
The long wait for an Apple Watch Ultra 3 appears to be nearly over, and it is rumored to feature both satellite connectivity and 5G support.
Apple Watch Ultra's existing Night Mode
In his latest Power On newsletter, Bloomberg's Mark Gurman said that the Apple Watch Ultra 3 is on track to launch this year with "significant" new features, including satellite connectivity, which would let you...
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are just over two months away, and there are plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models.
Latest Rumors
These rumors surfaced in June and July:Apple logo repositioned: Apple's logo may have a lower position on the back of the iPhone 17 Pro models, compared to previous...
The iPhone 17 Pro Max will feature the biggest ever battery in an iPhone, according to the Weibo leaker known as "Instant Digital."
In a new post, the leaker listed the battery capacities of the iPhone 11 Pro Max through to the iPhone 16 Pro Max, and added that the iPhone 17 Pro Max will feature a battery capacity of 5,000mAh:
iPhone 11 Pro Max: 3,969mAh
iPhone 12 Pro Max: 3,687mAh...
Apple's position as the dominant force in the global true wireless stereo (TWS) earbud market is expected to continue through 2025, according to Counterpoint Research.
The forecast outlines a 3% year-over-year increase in global TWS unit shipments for 2025, signaling a transition from rapid growth to a more mature phase for the category. While Apple is set to remain the leading brand by...
AppleInsider's Marko Zivkovic today shared a list of alleged identifiers for future Mac models, which should roll out over the next year or so.
The report does not reveal anything too surprising, but it does serve as further evidence that Apple is seemingly working on new models of every Mac, including the MacBook Air, MacBook Pro, iMac, Mac mini, Mac Studio, and Mac Pro.
Apple is...
The upcoming iPhone 17 Pro and iPhone 17 Pro Max are rumored to have a slightly different MagSafe magnet layout compared to existing iPhone models, and a leaked photo has offered a closer look at the supposed new design.
The leaker Majin Bu today shared a photo of alleged MagSafe magnet arrays for third-party iPhone 17 Pro cases. On existing iPhone models with MagSafe, the magnets form a...
