Apple's Services Achieve All-Time Quarterly Revenue Record
Apple today reported services revenue of $18.27 billion in the fourth quarter of its 2021 fiscal year, which is an all-time quarterly revenue record. The company's services revenue was up around 25% from $14.54 billion in the year-ago quarter.
Apple's services category includes revenue generated from the App Store, Apple Music, Apple Arcade, Apple Pay, Apple Card, Apple TV+, Apple News+, Apple Fitness+, AppleCare+, iCloud, iTunes Store, licensing, and more.
Cook told CNBC that Apple has 745 million paid subscriptions, ranging from Apple Music subscriptions to in-app subscriptions through the App Store.
"That's up 160 million year on year, which is up five times in five years," said Cook. "So it's been quite the growth cycle."
Apple's financial chief Luca Maestri said the company set September quarter revenue records across each of its services, and he said Apple's active installed base of all devices reached a new all-time high across all of its geographic segments.
Maestri said Apple's services category brought in $68 billion revenue in the 2021 fiscal year, which is nearly triple the company's services revenue six years ago.
Earlier this week, Apple announced that Apple Fitness+ subscribers can now use SharePlay to start a group workout or meditation with their friends while on a FaceTime call. Apple Fitness+ is also expanding to 15 more countries on November 3.
Apple reported overall revenue of $83.4 billion for the quarter, which ran from late June through late September of this year.