Apple announces Services revenue hits all-time high of $11.5 billion in Q2 2019
Apple has reported an all-time high revenue from its ever-growing Services category, with the company announcing the devision, which includes the App Store, Apple Music, Apple Pay, AppleCare, and iTunes, has brought in $11.5 billion in revenue during the fiscal period.
The news was announced on Tuesday as Apple reported revenue of $58 billion and $11.56 in profit during the second quarter of its 2019 fiscal year.
The staggering growth in its Services category has seen Apple up its category-specific revenue from $9.9 billion in the year-ago quarter, with the company reportedly having 390 million paid subscriptions across all of its services, an increase of 30 million compared to last quarter.
Apple has previously said it aims to reach $14 billion in Services revenue per quarter by 2020, and the company is well on its way to reaching that goal, especially with the help of its newly announced Apple News+ pay-monthly news and magazine service, forthcoming Apple Arcade gaming subscription service, and highly anticipated Apple TV+ service arriving later in the year.