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.
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