- Apple made $20.9 billion in revenue from services alone in the first quarter of 2023
- It’s as much as Coca-Cola and Netflix, two multinational companies yet very well established
- In recent years, the growth of services has been impressive at Apple
$20.9 billion is the total turnover achieved by Apple during the first quarter in the services category. By this term, we mean everything that does not fall within the field of hardware and in particular: App Store, iCloud, Apple Care, Apple Music, Apple TV+, but also Apple Pay.
A goose that lays golden eggs for Apple
While clearly overshadowed by the immense size of the #iPhone business, #Apple‘s services segment has grown into a beast of its own in recent years. pic.twitter.com/kBEf4u1ne2
— Statista (@StatistaCharts) May 9, 2023
Because this sum does not necessarily speak to ordinary mortals, Statista analysts have carried out a comparison of which they have the secret. It makes it possible to gauge this result in comparison with those obtained by other large American multinational companies.
And the least we can say is that this observation is impressive. Apple’s services therefore generate more revenue than Coca-Cola and Netflix combined. It is also much more than those made by Boeing, Nike, American Airlines, or even Intel, and McDonald’s.
During the presentation of the results, Tim Cook was also quite proud to announce that the Cupertino company was approaching one billion subscribers for its services: 975 million, or 40 million more compared to the end of 2022. Over the past three years, 500 million additional users have subscribed to the company’s in-house services apple mark.
And they have very good reasons for that. Remember in particular that the catalog of Apple TV + continues to grow with series and films of excellent quality. Apple Music pays a lot of attention to the sound quality of the songs broadcast. As for Apple Card, it continues to grow in the United States with the addition of a savings account and new means of payment.
For the Tech giant, this growth in services is also excellent news. Indeed, over time, consumers are more and more equipped with equipment. And even if it has to be replaced from time to time, we are witnessing a certain downturn in the markets for smartphones and computers.
In this context, generating new revenue is therefore a necessity and a boon, especially since during this time, these customers remain in the bosom of Apple and are not tempted to go to the competition.
For your part, are you customers of Apple’s services, and do you consider them to be up to your expectations? Give your opinion in the comments.