Apple Services Hit 240 Million Paid Subscriptions

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| News

Apple may be a hardware company, but it’s also a services company. The Mac and iPhone maker drove that point home with the revelation that paid subscriptions hit 240 million during its first fiscal quarter earnings report for 2018.

Apple with a big pile of money

The company’s services business grew 58% year-over-year, and CEO Tim Cook said that was the big driver behind revenue growth in that area. CFO Luca Maestri said services has been up 27% for average per week revenue.

Services include products such as iCloud subscriptions, Apple Music, and iTunes Match.

Apple’s Q1 2018 revenue came in at US$88.3 billion in revenue with 77.3 million iPhones, 13.2 million iPads, and 5.1 million Macs sold. The earnings report is still underway, so be sure to check in with The Mac Observer for our additional coverage and analysis.

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