Apple’s Services segment delivered record revenues in the first quarter, demonstrating the importance of subscription services to its business.
The segment, which includes App Store, Apple Music, Apple TV+ and iCloud increased sales by 17%.
The company also reported record revenues of $97.3 billion, a 9% increase year on year. However, there sales of the iPhone showed evidence of a slowdown.
Apple now has over 825,000 subscribers to both Apple branded and third-party products, a figure that has risen by more than 165 million over the last 12 months.
“This quarter’s record results are a testament to Apple’s relentless focus on innovation and our ability to create the best products and services in the world,” said Tim Cook, Apple’s CEO. “We are delighted to see the strong customer response to our new products, as well as the progress we’re making to become carbon neutral across our supply chain and our products by 2030. We are committed, as ever, to being a force for good in the world — both in what we create and what we leave behind.”
The success for Services comes after Apple TV+ was awarded Best Picture at the Academy Awards for the comedy drama Coda.
