Revenue from Apple's service division set a new record: $22.3 billion, up 16.3% from a year earlier

CTOnews.com November 3, Apple today announced the fourth quarter of fiscal 2023 (the third quarter of 2023) results, of which the service division revenue of $22.3 billion (currently about 163.236 billion yuan), an increase of 16.3% year-on-year, and a new record.

Wall Street had estimated that Apple's service division had revenue of $21.35 billion (CTOnews.com Note: currently about 156.282 billion yuan), surpassing the actual performance by nearly $1 billion.

CTOnews.com note: Apple's service division includes subscription services such as App Store, Apple Pay and Apple Card;Apple TV+, Apple Music, Apple Arcade and iCloud; advertising; and the fees Google pays for search.

Apple said in August that the number of paid subscribers exceeded the milestone of 1 billion, pushing the company's service business to a new level.

Apple last month raised its Apple TV+ monthly fee further to $9.99, the second increase in a year and double the $4.99 a month price launched in 2019. Apple has also raised the cost of Apple Arcade, Apple News+ and Apple One bundles.