Олексій Дзюба Hot News 31 January 2025, 15:45

Last year, Apple earned almost $100 billion from subscriptions and services alone

Which company's products were in greatest demand among customers?

In 2024, Apple managed to earn almost $100 billion from subscriptions and services alone, CNBC writes , citing the company's report for the 4th quarter of last year.

Apple's services division includes App Store transactions as well as subscriptions to iCloud, Music, TV+ and other services. The company says that the total number of active subscriptions for its services, including third-party apps in the App Store, exceeds 1 billion.

Apple's services revenue "hit a record high" in the fourth quarter of last year, at $26.3 billion, up 14% from the same period last year. The company's total revenue rose 4% to $124.3 billion, but iPhone sales fell short of Wall Street expectations and revenue in China fell 11.1%. Despite this, the company's shares rose 3% after the close of trading on the stock exchange, thanks to a forecast of revenue growth in the current quarter.

In China, Cook attributed the decline to three factors: inventory changes (accounting for half of the decline), the lack of Apple Intelligence in the region, and the fact that national subsidies were introduced after the end of the quarter. The company plans to release a simplified Chinese version of Apple Intelligence in April.

Mac and iPad both saw solid growth, up 15% in both directions, largely thanks to new products. But sales in the “Other Products” category, which includes Apple Watch, AirPods, Beats and Vision Pro, fell 2% year-over-year to $11.75 billion. Tim Cook said the company has an active base of 2.35 billion active devices, down from 2.2 billion a year ago.