Apple’s Fiscal Q3: Service Business Adds $7.3B, Paid Subscriptions Top 185M

August 2, 2017

Excerpts from an article by Gavin O’Malley in MediaPost

Across the board, Apple had a bang-up fiscal third quarter. Year-over-year, revenue was up 7%. Despite fears that consumers were waiting for the upcoming iPhone 8, the tech titan sold 41 million phones. Even iPads sold well — growing 28%, quarter-over-quarter, and 15%, annually.

But the real story this past quarter was services.

Yes, revenue from the Apple Store, Apple Music, Apple Pay, and iCloud pumped $7.3 billion into the company’s coffers during the period. That’s up 22%, year-over-year, and an all-time high for Apple.

“Over the last 12 months, our services business has become the size of a Fortune 100 company,” CEO Tim Cook told analysts during an earnings call, on Tuesday.

Across all of Apple’s services, the number of paid subscriptions surpassed 185 million — an increase of nearly 20 million in the last 90 days alone.

The growth in services is partly attributable to international expansion.

Read the full article in MediaPost

And learn how Zuora helps D2C subscription businesses acquire new customers and increase revenue!