It’s Almost There: Apple Reports Nearly 1 Billion Active Subscriptions

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Apple has announced that its Services revenue has reached an all-time high of $20.91 billion in fiscal Q2. This growth has been driven by record sales for the App Store, iCloud, Advertising, and AppleCare, among others. CEO Tim Cook revealed that Apple customer subscriptions are almost at 1 billion, and the company now has over 975 million active subscriptions. This marks a significant increase from just three years ago when Apple had less than half of the current number of subscriptions. While no specific number of active devices was disclosed, the company has more than 2 billion active devices.

Apple CFO Luca Maestri attributes the growth in Services revenue to a strong active device base, high customer satisfaction and loyalty, and higher engagement than ever before. Cook sees opportunities for Apple’s Services in a number of areas, as he believes they are underpenetrated. This growth in Services revenue is particularly important for Apple as it seeks to diversify its revenue streams beyond hardware sales. Overall, the performance of Apple’s Services segment in fiscal Q2 demonstrates the company’s ability to continue to grow and innovate in a highly competitive industry.