Apple's Services Revenue Reaches $17.5 Billion in Q3 2021, Setting New All-Time Record
Apple's services category, which includes the App Store, Apple Music, Apple Pay, AppleCare, Apple TV+, Apple Arcade, Apple Fitness+, and more, saw another quarter of incredible growth according to Apple's earnings results for the third fiscal quarter of 2021 (second calendar quarter).
Services brought in $17.5 billion during the quarter, up 33 percent from $13.2 billion in the year-ago quarter and up from $16.9 billion last quarter.
Cloud services, Apple Music, advertising, video, and payments saw all-time revenue records, while the App Store saw a new June quarter revenue record.
During the earnings call announcing the results, Apple CFO Luca Maestri said that Apple's install base of devices hit a new all-time high as well, which helps drive services growth.
Apple now has more than 700 million paid subscriptions, which is up 150 million from last year, and is four times the number of subscriptions that Apple had four years ago.
Paid accounts on digital content stores reached a new all-time high across each geographic segment, and paid accounts increased by double digits.
Apple CEO Tim Cook highlighted the 35 Emmy nominations that Apple TV+ shows have received, and he said that Apple TV+ viewers are loving shows like "Ted Lasso" and "Mythic Quest."