- Apr 12, 2001
Apple's services category, which includes Tunes, the App Store, the Mac App Store, Apple Music, Apple Pay, AppleCare, Apple TV+, Apple News+, Apple Arcade, and more, has continued to see significant growth even amid the global health crisis, Apple announced today.
In the second fiscal quarter of 2020, Apple's services segment brought in $13.3 billion, up from $11.5 billion in the year-ago quarter, marking 17 percent growth year over year.
Apple in 2019 introduced a number of new services, including Apple News+, Apple TV+, Apple Arcade, and Apple Card, all of which have contributed to the significant growth Apple has seen over the course of the last several months. Apple News, said Cook, has hit a new milestone of 125 million monthly active users, while App Store revenue saw double digit growth. Both FaceTime and iMessage saw daily record use during the quarter as people worked from home and stayed inside.
Apple in 2016 set a goal of doubling its services revenue by fiscal 2020, a goal that Apple is on target to hit this year. Apple now has 515 million paid subscriptions across its platform, and expects to hit 600 million by the end of 2020.
Apple CFO Luca Maestri also said that Apple's active installed base of devices hit all-time highs in all products and geographies.
Article Link: Apple's Services Revenue Hits New All-Time High of $13.3 Billion in Q2 2020