Robust Services growth ensures Apple is more than just an iPhone brand

Cupertino: As iPhones sale dip amid supply and demand uncertainties, Services segment is following a different trend for Apple, with strong year-over-year growth of 17 per cent and setting a new all-time revenue record of $13.3 billion in the company’s second quarter results.

The company saw all-time records in many of its Services categories — App Store, Apple Music, Video, cloud services, its App Store search ad business, AppleCare, Apple TV Plus, Apple Arcade, Apple News Plus and Apple Card.

According to Luca Maestri, Apple’s CFO, new services like Apple TV Plus, Apple Arcade, Apple News Plus and Apple Card continue to add users, content and features while contributing to overall Services growth.