Apple saw a very slight dip in revenue for its June quarter as it was down 1% YoY, but performance was better than many analysts predicted. A saving grace as iPhone sales have slowed down has been the continued growth of Apple’s services.
CEO Tim Cook shared the 1 billion paid subscriptions milestone in a press release this afternoon:
“We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over 1 billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone,” said Tim Cook, Apple’s CEO. “From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it.”
Apple CFO Luca Maestri continued by saying that the installed base of active Apple devices has also “reached an all-time high in every geographic segment.”
While he didn’t share the latest number, Apple said back in February that it surpassed 2 billion active devices.
- Apple hits milestone of 2 billion active devices as Services set new revenue record
Check out our full coverage for a breakdown of Apple’s fiscal Q3 performance:
- AAPL reports Q3 2023 earnings: $81.8 billion revenue, iPhone sales dip
