Apple's Services Segment Sees Double-Digit Growth in Q3 2020

[MacRumors]

Apple's services category, which includes iTunes, the App Store, Mac App Store, Apple Music, Apple Pay, AppleCare, Apple TV+, Apple Arcade, and more, continues to see major growth each quarter.

According to today's earnings report covering the third fiscal quarter of 2020, Apple's services segment brought in $13.2 billion, up nearly $2 billion from the $11.5 billion earned in the third quarter of 2019, marking a June quarter record.

Apple CEO Tim Cook said that Apple's record third quarter earnings of $59.8 billion were driven by double-digit growth in products and services.The App Store, Apple Music, and video and cloud services saw record revenue, though revenue from AppleCare and ads was down.

According to Cook Apple has successfully achieved its 2016 goal of doubling its services revenue, hitting the milestone six months ahead of expectations.

Article Link: Apple's Services Segment Sees Double-Digit Growth in Q3 2020

 

[Baymowe335]

This is the engine of the much deserved revaluation of Apple as a company.

 

[Apple_Robert]

I was expecting this news. Good for Apple. They have made a lot of headway in the last few years.

 

[Kkspire]

Way to go

 

[m4mario]

It’s always a bad time to be an Apple Naysayer.

 

[smaffei]

A lot of tech companies are up. People are locked in their homes (for the most part). Buying tech to entertain themselves and work from home is where a lot of money is going. No surprise there. But, many other sectors are doing poorly due to the pandemic.

 

[technole]

Crickets from that forum naysayer that said to me services is bull.