Apple earned almost $100 billion in 2024 from subscriptions and services alone

During Apple's financial report, Tim Cook said that the company's revenues from subscription services reached a record level. In 2024, Apple earned almost $100 billion from subscriptions, TechCrunch reports.

In the fourth quarter of 2024, Apple's revenue in the services sector reached a record high of $26.3 billion, up 14% year-on-year.

Apple's services division covers transactions in the App Store, as well as subscriptions to iCloud, Music, TV+, and other services. The company reports that the total number of active subscriptions to its services, including third-party applications in the App Store, exceeds 1 billion.

Apple noted the rapid growth of Arcade and Fitness+ services, as well as the growing popularity of Apple's Tap to Pay feature for iPhone, which is used for transactions.

Although investors did not ask directly about the impact of the Trump administration on Apple's earnings, one question concerned whether new regulatory changes could benefit the company.

Apple's CFO Kevan Parekh did not directly answer this question, but instead noted that customer engagement is growing across all services, among the entire customer base, and in different regions of the world.

For many years, Apple has been defending itself against antitrust lawsuits and other government actions, both in the US and abroad. The main discussion centered on what percentage Apple is entitled to take from payments made in the App Store.

Last year, one of the key antitrust cases finally came to an end when the US Supreme Court refused to hear an appeal against the Epic-Apple decision. This means that the court's decision that Apple is not a monopolist remains in force.

However, Apple should still allow app developers to redirect users to external resources from the App Store.

By the way, in the financial report, Tim Cook also said that the company has more than 2.35 billion active devices worldwide.