Services

Demonstrating how Apple’s business is changing, revenue from Services was an all–time record $9.5bn, up 31% year–over–year. Apple said it now has over 300m paid subscribers. The App Store set a June quarter revenue record, and Cloud services revenue is up by more than 50% year–over– year. So is Apple Music, which now has over 50m listeners (but Apple did not say how many are paying and how many are trial users). Looking ahead, Apple’s earnings from Services are expected to soar, with its streaming TV service and original content gearing up to launch.