Apple and Amazon are the latest tech companies to post their financial results for Q3 2021, and while both are still serious moneymakers – $83.4bn and $110.8bn of revenues respectively – both narrowly missed their forecasts for the quarter. That’s a reflection of the global supply-chain crunch that’s currently happening.
On the digital side, however, both companies are still growing well. Apple’s services division generated $5.4bn of revenue in Q3 (its fiscal Q4) which was up 12.1% year-on-year. Meanwhile, Amazon’s revenue from subscription services grew by 24% year-on-year to $8.15bn.
No new figures for Apple Music or Amazon Music as part of this, but both are playing their part in the two companies’ growth in services and subscriptions.
Get A Free Music Ally Account
Access unlimited News articles on the site, PLUS a trial of Music Ally’s subscriber-only services, including our industry-leading daily Bulletin email.