Apple hits 935 million paid subscriptions

Apple has surpassed more than 935 million paid subscriptions, after setting an all-time revenue record of $20.8 billion in services.

Apple CEO Tim Cook said that the company achieved double-digit revenue growth from App Store subscriptions and set all-time revenue records across several categories, including cloud and payment services.

"All told, Apple now has more than 935 million paid subscriptions," Cook informed.

The number of paid subscribers' number is up more than 150 million during the last 12 months alone and nearly four times what Apple had just five years ago.

Apple Pay is now available to millions of merchants in nearly 70 countries and regions.

The continued growth in the installed base is due to extremely strong levels of customer satisfaction and loyalty and a high number of customers who are new to the products, according to the company.

"We reached all-time services revenue records in the Americas, Europe, and the rest of Asia Pacific and a December quarter record in Greater China," said Luca Maestri, Chief Financial Officer, Apple.

"We also set records in many services categories, including all-time revenue records for cloud services, payment services, and music and December quarter records for the App Store and AppleCare," he informed.

In constant currency, Apple grew services revenue by double digits on top of growing 24 percent during the December quarter a year ago. (KB/IANS)