Apple today reported that its services revenue reached $18.27 Billion in the fourth quarter of 2021's fiscal year. This is an all-time quarterly record. Services revenue increased by 25% over the previous quarter, which was $14.54 billion.
Apple's services category includes revenues from Apple Music, Apple Music, Apple Arcade and Apple Pay.
Cook stated to CNBC that Apple currently has 745 million paid subscriptions. These range from Apple Music subscriptions to in app subscriptions through the App Shop.
Cook stated that the figure is up 160 million per year, which is five times more than in five years. It's been quite a growth cycle.
Luca Maestri, Apple's financial chief, said that the company broke September quarter revenue records for each of its services. He also said that Apple's active installed base reached a new record across all geographic segments.
Maestri stated that Apple's services had brought in $68 Billion revenue in the 2021 fiscal, nearly three times the amount of its services revenue six years earlier.
Apple revealed earlier this week that Apple Fitness+ subscribers will now be able to use SharePlay while on FaceTime calls to initiate a group exercise or meditation. Apple Fitness+ will also be expanding to 15 additional countries starting November 3.
Apple reported total revenue of $83.4B for the quarter that ran from June to September.