Apple made $95.4 billion last quarter, with Services earning $26.4 billion. Services bring much higher profits than hardware sales. For every dollar from Services like Apple Music or iCloud, Apple keeps about 76 cents compared to just 36 cents from each hardware dollar.
iPhone sales reached $46.8 billion, but hardware costs eat up most of that money. Services cost Apple only $6.46 billion to run, helping raise the company's overall profit margin to 47 percent. This success marks ten straight quarters of Services growth.
Experts think Services will earn $100 billion this year, making up a quarter of Apple's expected $400 billion yearly total. The App Store helps drive these profits through fees from app purchases. As people keep buying Apple devices, the Services business should continue growing since every new customer becomes a potential subscriber.
iPhone sales reached $46.8 billion, but hardware costs eat up most of that money. Services cost Apple only $6.46 billion to run, helping raise the company's overall profit margin to 47 percent. This success marks ten straight quarters of Services growth.
Experts think Services will earn $100 billion this year, making up a quarter of Apple's expected $400 billion yearly total. The App Store helps drive these profits through fees from app purchases. As people keep buying Apple devices, the Services business should continue growing since every new customer becomes a potential subscriber.
