Apple released third quarter earnings and reported $19.6 billion in services revenue on Thursday, marking a 12% year-over-year increase but lower than Wall Street’s prediction of about $19.7 billion. The tech giant’s third-quarter services revenue is also down from last quarter’s record-breaking $19.8 billion and less than the 27% growth it reported during the same period last year.
The category, which includes businesses such as the App Store, Apple TV+, Apple Music, cloud services and more — reached 860 million paid subscriptions on Apple’s platform, up from 825 million in its previous quarter. Apple said that figure exceeded 160 million over the past 12 months.
, record Level of performance of Our Services portfolio during june quarter it shows might of Our Ecosystem Feather Many fronts,” said Apple CFO Luca Maestri. ,First, Our install Base Is Continuous To Grow, reached One All Time High across each Geographic section And major the product grade. We Too saw increased Customer The engagement with Our Services during quarter Our transactions Accounts, have paid Accounts And Accounts with have paid Membership. all Enhanced double score year above year And Phelp sMembership has shown very Strong growth.”
Maestri also said that the company set all-time records for Apple Music, Apple Care, cloud services and paid services.
The company highlighted some of its recent achievements in the services category, as Apple CEO Tim Cook pointed out that Apple TV+ has now earned 250 wins and 1,110 award nominations and counting. Cook also pointed out that this month, Apple TV+ earned 52 Emmy nominations across 13 titles, including “Severance” and “Ted Lasso.”
As for the rest of Apple’s third-quarter results, iPhone revenue was up slightly year-over-year, from $39.5 billion to $40.7 billion — a 3% jump from the same time period in 2021. But while the company’s overall picture turned green on Wall Street’s expectations, things were less good in other categories. Mac, iPad and combined wearables/home categories all took a hit for the quarter.