APPLE STOCK

Apple services subscribers grow 25% to new high of 825 million


Apple has been investing a lot in its services recently, as the company now has Apple Music, Apple TV +, Apple Arcade, and other platforms. Luckily for the company, its efforts have been paying off as Apple now has 825 million subscribers across all its services – which is an all-time record.

The number was confirmed by Luca Maestri, Apple’s Chief Financial Officer, on the day the company shared its earnings for the second fiscal quarter of 2022.

According to Maestrithe number of subscribers to Apple services has grown by 165 million since last year, going from 660 million to 825 million subscribers, which is a 25% growth compared to a year ago.

According to Apple’s CFO, the company is “very happy” given all the investment it has been making in services. Unfortunately, there are no details about each specific service category, so we don’t know what part of this giant number is about Apple Music, Apple TV +, or even App Store subscriptions, for example.

For the quarter, Apple reported revenue of $ 97.3 billion, an increase of 9% year-over-year. The company reported a profit of $ 25 billion and earnings-per-share of $ 1.52. The services category alone accounted for revenue of $ 19.82 billion in Q2 2022, outperforming products like the Mac, iPad, and even the wearables segment (with AirPods and Apple Watch).

You can read Apple’s full earnings release in this post on Apple Newsroom. Stay tuned to 9to5Mac for more coverage from the AAPL earnings call with Tim Cook and Luca Maestri next. You can listen live to the AAPL Q2 2022 earnings call audio streaming at the top of the hour here or listen back shortly after the call with Apple Podcasts.

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Naveen Kumar

Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.

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