April 28, 2022
Apple’s foray into subscription-based businesses continues to resonate on the bottom line. The tech giant April 28 reported record services revenue of $19.8 billion for the second quarter (ended March 26). That compared with revenue of $16.9 billion during the previous-year period. Overall, Apple posted a March quarter revenue record of $97.3 billion, up 9% year over year.
Services revenue includes sales of movies and TV shows on iTunes, the App Store, Mac App Store, Apple Music, Apple Pay, Apple TV+, Apple Arcade and Apple News+, among others.