Apple announces Services revenue of $20.9 billion in Q2 2023, marking new all-time high

Apple’s popular Services business, which includes Apple Music, iCloud, Apple TV+, and more, has reached a new all-time high in the iPhone maker’s fiscal 2023 second quarter, with the company posting Services revenue of $20.9 billion, comprising of more than 975 million paid subscriptions across all Services.

According to Luca Maestri, Apple’s Chief Financial Officer, paid subscriptions across Services are up 150 million year over year, and nearly double the number of subs from three years ago.

The insight comes as Apple has announced its fiscal Q2 2023 earnings results, reporting revenue of $94.8 billion, down 3 percent year over year.

Apple’s Services business covers Apple Music, iCloud+, Apple TV+, Apple Arcade, Apple News+, AppleCare, and more. According to Maestri, the company saw record growth for the App Store, iCloud, Advertising, and AppleCare.