Apple nears 1 billion active subscriptions – Times of India

Apple has announced its fiscal Q2 results, reporting a new revenue record for the iPhone and another all-time high in Services revenue. A significant contributor to the Services revenue is subscriptions, approaching a figure of one billion, almost double of what it was three years ago.
Apple’s CEO Tim Cook and CFO Luca Maestri announced during their earnings call that the company has achieved an all-time high in Services revenue, totaling $20.91 billion.
Cook revealed that Apple had reached 975 million subscriptions across its Services offerings, which include popular products such as the App Store, Apple Music, Apple TV+, iCloud, and more, making the Services business an increasingly important part of Apple’s overall revenue mix.
By diversifying its offerings beyond its core hardware products, Apple has been able to tap into a growing market for digital content and subscriptions while providing customers with a more seamless experience across its ecosystem of devices and services.
“We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment and to have our installed base of active devices reach an all-time high,” Cook said.
Maestri said that the company’s subscription base had experienced significant growth in the past few years. Currently, the company has almost 1 billion subscriptions, which is less than half of what it had three years ago.
The exact number of active devices was not revealed, aside from the announcement in February that Apple had “more than 2 billion” active devices.
Maestri highlighted that Apple’s Services revenue growth was attributed to various factors, such as a strong base of active devices, high levels of customer satisfaction and loyalty, and increased engagement with Apple’s products and services.
Apple recorded a revenue of $94.3 billion for the last quarter.