Apple had a rare quarter in which it missed its revenue target due to supply chain and manufacturing issues. However, its revenue from services was a bright spot in the earnings. According to the company, it now has 935 million paid subscriptions across all of its services.
In the first quarter of the fiscal year, these services, which included iCloud, Apple Music, Apple TV+, Apple Arcade, Apple News+, Apple Fitness+, Apple One, and Apple Pay, brought in $20.8 billion. This represents a 6% increase over the same period last year, when the company earned $19.5 billion. Apple also offers enterprise services such as Business Essentials, AppleCare, Tap to Pay, and Apple Financial Services.
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