Apple's Services Segment Sees Double-Digit Growth in Q3 2020
Apple's services category, which includes iTunes, the App Store, Mac App Store, Apple Music, Apple Pay, AppleCare, Apple TV+, Apple Arcade, and more, continues to see major growth each quarter.
According to today's earnings report covering the third fiscal quarter of 2020, Apple's services segment brought in $13.2 billion, up nearly $2 billion from the $11.5 billion earned in the third quarter of 2019, marking a June quarter record.
Apple CEO Tim Cook said that Apple's record third quarter earnings of $59.8 billion were driven by double-digit growth in products and services.The App Store, Apple Music, and video and cloud services saw record revenue, though revenue from AppleCare and ads was down.
According to Cook Apple has successfully achieved its 2016 goal of doubling its services revenue, hitting the milestone six months ahead of expectations.
Popular Stories
Google was today fined €890 million ($1 billion) by the European Union for breaching antitrust rules with regard to its search and Google Play store services.
The European Commission found that Google had broken the Digital Markets Act (DMA) by using its dominant position in the search market to favour its own services, like shopping and hotel deals, over those of rivals.
The Commission ...
Apple is facing a new lawsuit from three customers who allegedly lost a combined $1.8 million after falling victim to a fake Bitcoin wallet app in the App Store, according to a complaint filed in California federal court on Friday.
The complaint alleges that Apple violated California's Consumers Legal Remedies Act and other laws by failing to adequately review and monitor apps distributed...
Apple said new UK App Store rules would give regulators a "highly intrusive" role dictating how it runs its business, reports Reuters. Apple submitted feedback to the UK's Competition and Markets Authority as it considers forcing Apple to change its App Store rules around steering.
The CMA wants Apple to let developers link to payment options outside of the App Store, which the CMA says will ...
