Revenue from Apple Services up 150% in 9 years

Revenues from Apple’s Services segment have jumped 150% in the last nine years, according to Stocklytics.com data analysis, with the branch accounted for 25% of the tech giant’s Q3 2023 earnings, up from 10% in Q3 2015.

“Apple Services’ growth has been extraordinary,” said Stocklytics’ investment expert Edith Reads. She adds that the rise is more impressive given that it has outdone some of Apple’s other key segments like wearables and iPads.

She expects an even brighter future for the segment.

“Apple Services’ income surge underscores its growing significance to Apple’s overall revenue structure. The segment can only consolidate its gains as the tech giant innovates to expand its global reach.”

Apple Services’ quarterly earnings have been on a tear since crossing the $10 billion mark in Q3, 2018, according to the Stocklytics data.

This movement has seen the unit’s annual income grow from roughly $40B in FY18 to over $85B in FY23.