What you need to know
- Apple's services business has grown to a new record of 825 million subscribers.
- This represents a growth of 165 million subscribers over last year.
Earlier this evening, Apple reported its Q2 2022 earnings. In addition to reporting a record-breaking $97.3 billion in revenue for the March quarter, the company also revealed that it has hit a new record for its services business.
Apple's Chief Financial Officer, Luca Maestri, revealed that the company's services business has reached 825 million subscribers. That represents a growth of 165 million subscribers when compared to last year. Maestri said that "we're obviously very happy given all the investment we made in recent years."
Apple has certainly poured a lot of its focus on its services businesses over the recent years. Most recently, the company launched Apple Fitness+ and Apple TV+, a fitness and video subscription service. Both services seem to be a hit for subscribers, especially Apple TV+, which very quickly picked up its first Academy Award for Best Picture with the heartwarming film "CODA."
Unfortunately, Apple did not provide a breakdown of which services its customers were specifically subscribed to. The company has always lumped everything together into one "services" umbrella. So, we still don't know how many people are subscribed to Apple Music compared to Apple News+.
For the second quarter of 2022, Apple reported a revenue record of $97.3 billion, an increase of nine percent when compared to last year.
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