Apple Services Revenue Soars in Q2 2024

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

That also beat Wall Street estimates of $23.96 billion.

Overall revenues were $85.8 billion in the quarter, up from $81.8 billion a year ago, with net income of $21.4 billion.

As usual, Apple remained mum on how its media businesses, including Apple TV+ and Apple Music, factored into its quarterly growth.

“Today Apple is reporting a new June quarter revenue record of $85.8 billion, up 5 percent from a year ago,” said Tim Cook, Apple’s CEO, 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 core of iPhone, iPad, and Mac. We very much look forward to sharing these tools with our users, and we continue to invest significantly in the innovations that will enrich our customers’ lives, while leading with the values ​​that drive our work.”

More to come.