Apple CEO Tim Cook on Thursday shared information about the Cupertino firm’s Services business, as he said the company is coming up on one billion paid subscriptions, which is nearly double from three years ago.
Cook’s remarks came during yesterday’s conference call as he and Apple CFO Luca Maestri discussed the company’s financial results for the fiscal second quarter. During the call, Cook briefly shared how well the company is found when it comes to subscriptions, such as the App Store, Apple Music, iCloud, and other services.
In February, Apple revealed that its Services business had reached over 935 million active paid subscriptions, a 35% increase from the 900 million subscriptions it had in the fourth quarter of 2022.
During Thursday’s earnings call, Cook mentioned that the company had reached 975 million subscriptions.
The Services division increased subscriptions contributed to the division’s steady growth in the second quarter, bringing in $20.9 billion in revenue, up from $19.8 billion in the first quarter.
“We are pleased to report an all-time record in Services and a March quarter record for iPhone despite the challenging macroeconomic environment, and to have our installed base of active devices reach an all-time high,” Cook said. “We continue to invest for the long term and lead with our values, including making major progress toward building carbon-neutral products and supply chains by 2030.”
On Thursday, Apple announced its fiscal second-quarter 2023 (first calendar quarter) revenue results. It reported revenue of $94.8 billion and net quarterly profit of $24.1 billion, or $1.52 per diluted share, compared to revenue of $97.3 billion and net quarterly profit of $25.0 billion, or $1.52 per diluted share, in the year-ago quarter.
