Quarterly figures confirm it again: services a gold mine for Apple

Quarterly figures confirm it again services a gold mine for

While discussing its most recent quarterly earnings, Apple announces it has more than 860 million paying subscribers. This then applies to all services offered by the Cupertino-based company. So not only Music and TV+, but also products like the news service and of course the cloud storage service.

This is what Luca Maestri, Apple’s chief financial officer, announced during the discussion of the third, financial quarter figures. The number of subscribers has also increased significantly. In recent months, more than 160 million people signed up for the various services.

Apple services make a lot of money

So while Apple services are farming well, unfortunately the company doesn’t disclose the number of subscribers for each service. That’s a bit of a shame, because it doesn’t really allow you to measure how well a particular service is doing. Maestri does let us know that TV+ and Arcade have been on the rise lately, but that’s all we have to go on.

Such numbers probably do well with investors. This may make them inclined to invest more money. But even then, we think it’s nice to know exactly where your money is going. For example, if Music were to score poorly and that service turns out to be a bottomless pit, it would be a shame if your money went there.

Trust in the company

For now, it seems that many investors have confidence in Apple and the services it offers, because you don’t really hear them talking about it. With nearly $20 billion in revenue at the Services branch, you may not need to hear them at all. However, it would be nice to know the details of the various services – as an investor, but also as a journalist.

Anyway, Apple made a good decision years ago to focus more on services and compete with the likes of Spotify and Netflix. With millions of people within the ecosystem, the chances are pretty good that all of those users will at least try out such an Apple service and maybe stick with it.

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