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Apple's Services Revenue Hits New All-Time High of $14.5 Billion in Q4 2020

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Apple's services category, which includes iTunes, the App Store, Mac App Store, Apple Music, Apple Pay, AppleCare, Apple TV+, Apple Arcade, Apple News+ and more, continues to see major growth each quarter.

appleservices
According to today's earnings report covering the fourth fiscal quarter of 2020 (third calendar quarter), Apple's services segment brought in $14.5 billion, up from $12.5 billion in the fourth fiscal quarter of 2019.

Over the course of the last fiscal year, services earned $53.8 billion, up from $46.3 billion in fiscal 2019.

Apple's number of paid accounts reached a new all time high with double digit growth, and paid subscriptions grew more than 35 million compared to last quarter. Apple now has 585 million paid subscribers, up 135 million from a year ago.

Apple has plans to add to its services offerings, with new products coming as soon as tomorrow. Apple One will offer bundles of services like ‌Apple Music‌, ‌Apple Arcade‌, and ‌Apple TV‌+ at reduced prices, while Fitness+ is a new $9.99 per month service that will provide guided workouts to Apple Watch users.

Apple One is launching on Friday, October 30, and Apple Fitness+ is launching later this quarter.

Tag: Earnings

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Top Rated Comments

B
Baymowe335
72 months ago
Beast mode. The services story continues...almost 17% growth.
Score: 3 Votes (Like | Disagree)
SirithX Avatar
SirithX
72 months ago

I mentioned this in another thread, but I believe $5 billion of that is the quarterly payment from Google for making it the default search engine in Safari and Siri.
Definitely. This fact has made some investors a bit less bullish when it comes to Apple's services outlook.
Score: 2 Votes (Like | Disagree)
W
whatgift
72 months ago
This is where Apples innovation is really showing, they understand the future is in services not hardware.
Score: 1 Votes (Like | Disagree)
beermode Avatar
beermode
72 months ago
That reminds me, I have to cancel my News+.
Score: 1 Votes (Like | Disagree)
SnakeEater1993 Avatar
SnakeEater1993
72 months ago
services will surpass iphones sales one day...
Score: 1 Votes (Like | Disagree)
C
crcuilla
72 months ago

I mentioned this in another thread, but I believe $5 billion of that is the quarterly payment from Google for making it the default search engine in Safari and Siri.
Interesting. It wouldn't be surprising. I'd consider it a bit disingenuous too.

I wonder how much is AppleCare too.

I get the picture they're trying to paint ("we're not just an iPhone company"). But, it would be interesting to see how much of that services revenue is tied directly to iPhone (and then Mac). This is somewhat understandable. They're building an ecosystem. But they previously tried to make the case (I can't find the quote) that a good chunk of this new services business was independent of iPhone. It's not. We know it.

They're trying to make the case while they try to build out an actual services business. That's all well and fine. But stockholders who are seeing services as a key growth area might be aware that it could be a bit of a "potemkin village" right now.
Score: 1 Votes (Like | Disagree)
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