Apple recently announced its latest quarterly earnings, and part of the details following the report show that the company’s Services division is still doing very well for itself.
Following the earnings report, Apple’s CEO, Tim Cook, and CFO, Luca Maestri, sat down on the phone to go over some of the finer details. That includes details regarding the Services division, which is Apple’s next big push for things like Apple Music, iCloud, and the upcoming Apple TV+.
The Services division includes iTunes, the Mac App Store, the App Store, AppleCare, Apple Pay, and others. And with iPhone sales stagnating, services have become a wholly reliant source of regular income for the company.
Just look at the third fiscal quarter of 2018 when the Services division brought in $10.17 billion. Or in the second quarter of this year for that matter, when the Services division hit a previous all-time high of $11.45 billion. This time around, in the fiscal third quarter of 2019, Apple’s Services division managed to take in $11.46 billion.
Breaking it down a bit, the executives said that Apple Music, AppleCare, search ads within the App Store, all set new all-time highs. Finally, Apple surpassed 420 million paid subscribers across all of its services.