Apple published its latest quarterly financial results yesterday, and the technical term for them is: stonktastic.
The company’s revenues in the second quarter of 2021 (its fiscal Q3) were $81.43bn, up 36.4% year-on-year and setting a new record for the quarter. $17.49bn of those revenues came from services, including Apple Music, with that services segment up 32.9% year-on-year.
Apple did not announce any specific figures for its music streaming service, although chief financial officer Luca Maestri told analysts that once again, Apple’s music business had beaten its all-time quarterly revenue record – as did its cloud services, video, advertising and payment services businesses.
“We now have more than 700 million paid subscriptions across the services on our platform, which is up more than 150 million from last year, and nearly four times the number of paid subscriptions we had only four years ago,” said Maestri.