Apple’s Services Revenue reaches New All-Time High

by Emily on August 3, 2021

in Apple, Tech News

Apple announced their financial results for the fiscal 2021 third quarter that concluded June 26, 2021.

The Cupertino-based company also experienced an all-time high on its services division.

Based on the latest earnings reported last week (July 27), Apple announced that it had enjoyed a quarter of amazing growth, with their services division raking in a whopping $17.5 billion from April, May to June – that is up 33% from the same quarter in 2020, and up from the $16.9 billion reported in the last quarter of this year.

The division is made up of services including the App Store, Apple Music and Apple Pay with newer offerings such as Apple Arcade, AppleCare, Apple News+, Apple TV+ and iCloud.

Apple CFO Luca Maestri said, “Our record June quarter operating performance included new revenue records in each of our geographic segments, double-digit growth in each of our product categories, and a new all-time high for our installed base of active devices. We generated $21 billion of operating cash flow, returned almost $29 billion to our shareholders during the quarter, and continued to make significant investments across our business to support our long-term growth plans.”

Apple CEO Tim Cook commented on the fruitful results, “This quarter, our teams built on a period of unmatched innovation by sharing powerful new products with our users, at a time when using technology to connect people everywhere has never been more important. We are continuing to press forward in our work to infuse everything we make with the values that define us — by inspiring a new generation of developers to learn to code, moving closer to our 2030 environment goal, and engaging in the urgent work of building a more equitable future.”

Cook also stressed the fact that Apple TV+ is going very well and so far Apple originals have received 352 award nominations and 98 wins. Their shows that have gotten a loyal following worldwide include The Morning Show, Defending Jacob, Ted Lasso, etc.

Image: Apple TV+

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