Apple Services Revenue Rises Sharply in Q2 2024

Apple’s services business continues to shine. The tech giant reported services revenue of $24.2 billion in the third quarter of its fiscal year, up from $21.2 billion a year earlier.

The result also beat Wall Street estimates of $23.96 billion.

Total revenue was $85.8 billion in the quarter, compared to $81.8 billion a year earlier, and net income was $21.4 billion.

As usual, Apple did not provide details on how its media businesses, including Apple TV+ and Apple Music, would impact the company’s quarterly growth.

“Today, Apple is reporting a new record for June quarter revenue of $85.8 billion, an increase of 5 percent year over year,” Apple CEO Tim Cook said in a statement. “During the quarter, we were excited to announce incredible updates to our software platforms at our Worldwide Developers Conference, including Apple Intelligence, a breakthrough personal intelligence system that puts powerful, private generative AI models at the center of iPhone, iPad and Mac. We can’t wait to bring these tools to our users and continue to invest significantly in innovations that enrich the lives of our customers, while being guided by the values ​​that drive our work.”

More in the future.