Its Services Business Is Still Booming
Services, it seems, isn’t going anywhere. Apple reported an increase of 120 million paid subscribers and a 19 percent increase in revenue across its various services versus this time last year. Apple noted that it tracked 1.8 billion Apple Pay transactions last quarter and that its total active installed base of devices grew to 1.4 billion.
CEO Tim Cook also hinted at an upcoming original video content service. Cook pointed out a multi-year partnership with Oprah but said Apple isn’t ready to “extend” the conversation about original content much further than that. “We’ll have more to say on that later,” Cook said.