660 mn paid subscriptions: Apple records $16.9 bn in revenue from services

Delivering an all-time revenue record of $16.9 billion for its Services, Apple has reached more than 660 million paid subscriptions across the services on its platform.

This is up 145 million from just a year ago and twice the number of paid subscriptions Apple are only 2.5 years ago.

The company posted all-time records for the App Store, cloud services, music, video, advertising and payment services.

Apple's installed base growth has accelerated and reach an all-time high across each major product category.

"The number of both transacting and paid accounts on our digital content stores reached a new all-time high during the March quarter, with paid accounts increasing double digits in each of our geographic segments," informed Luca Maestri, Senior Vice President and CFO.

The paid subscriptions continue to show strong growth.

"During the March quarter, we added more than 40 million paid subs sequentially," Maestri said during the company's earnings call on Wednesday.

The new service offerings, Apple TV plus, Apple Arcade, Apple News plus, Apple Card, Apple Fitness plus as well as the Apple One bundle, continue to scale across users, content and features and are contributing to overall services growth, the company said.

--IANS

na/