Todd Spangler NY Digital Editor Apple delivered solid financial results for the June 2023 quarter that beat Wall Street estimates, even as top-line revenue dipped 1.4% on lower-than-expected iPhone sales.
CEO Tim Cook boasted of a new milestone for the world’s biggest tech company: It now has more than 1 billion paid subscriptions across all apps and services, up 150 million year over year.
During the quarter, sales in Apple’s services unit grew 8.2%, to $21.21 billion. The services segment includes the App Store, Apple Pay, Apple Card and subscription services such as Apple TV+, Apple Music and iCloud.
On the earnings call, Cook said Apple TV+ also set a quarterly revenue record (but the company doesn’t break out results for individual services) and called out the streamer’s 54 nominations for the 2023 Emmy Awards.
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