App Store, Apple Music, iCloud and Apple Pay Set All Time Quarterly Revenue Records in Q1 2018

Apple's services category continues to grow rapidly, and in the first fiscal quarter of 2018, Apple services, which includes iTunes, the App Store, Apple Music, iCloud, Apple Pay, and AppleCare, saw revenue of $8.5 billion, up 18 percent year over year.

The App Store saw its best holiday season ever, and Q1 2018 marked the best quarter ever for not only the App Store, but also Apple Music, iCloud, and Apple Pay. Apple Music, iCloud, and Apple Pay all saw significant growth in active users.

Paid subscriptions passed 240 million by the end of the December quarter, which Apple says is an increase of $30 million in the last 90 days alone, the largest quarterly growth ever.

Apple CEO Tim Cook says Apple is well on its way to reaching its goal to double its services revenue by 2020.

Tags: App Store, earnings, iTunes

Top Rated Comments

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firewood

8 months ago

Billions and billions more in App revenue... seemingly going to a tinier and tinier percentage of app developers.

Rating: 2 Votes

FloatingBones

8 months ago

Apple Pay is a small part of Apple's business, but it has had a huge impact on safe, secure, and private e-payments for everyone. Thank you, Apple! :)

Rating: 1 Votes

Release

8 months ago

Wow. I have not bought a single app from the App Store since they took it out of iTunes on the desktop.

I used to subscribe to a ton of RSS feeds that would talk about new/notable apps, click the link, check it out, and then download it and try it whenever I got a chance. It was great having everything on the desktop.

Now? I only open the App Store on my phone or iPad to do the updates to existing apps. I understand that the iOS market is much larger than the desktop but its still disappointing atet Apple seem to think that everyone uses their phones for everything.

Rating: 1 Votes

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