Apple News

Apple touts ‘record results’ for iCloud storage business as services revenue tops $7B

Photo by theleetgeeks, via Flickr.

Here’s a sign of the times: Apple made almost as much revenue on its services businesses in the December quarter as it did selling computers.

The company’s services revenue topped $7.1 billion, including digital content, Apple Care, Apple Pay, licensing and other services. Mac sales, by comparison, were $7.2 billion, up about 1 percent.

On a conference call with analysts, Apple CEO Tim Cook pointed to factors including “all-time record results” from the company’s iCloud storage business, without disclosing specific numbers. The company offers 5GB of free storage for iCloud customers with paid plans ranging from 99 cents to $19.99 a month depending on storage amount.

Apple CFO Luca Maestri told analysts on the conference call that the company sees even more growth ahead for this part of its business. “Our iCloud storage business is growing very quickly, and so that is a business that also at a geographic level we can continue to grow significantly.”

That’s notable in part because Apple’s cloud business has been in play in the past. The company last year shifted a portion of its cloud workloads to Google Cloud Platform, although Amazon Web Services was quick to point out that Apple’s move didn’t reflect a wholesale shift away from the leading public cloud platform. Another variable is the fact that Apple has also been building out its own data centers, as well.

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