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Apple Revenue from Services

The chart above shows Apple’s net revenue from services from 2013 to 2022. Apple’s services revenue has continued to increase every year at an impressive rate.

Revenue of Apple Inc from Services 2013-2022

Amounts are in $millions.

YearServices Revenue ($mn)

2022: Apple’s services revenue grew by around 14% in 2022 compared to the previous fiscal. The company generated $78.13 billion from the sales of services in 2022 compared to $68.425 billion in 2021. Its sales of services accounted for around 20% of the company’s annual net sales in 2022. The company experienced growth in revenue across all product segments except iPad. iPhone revenue of the company remained higher than $200 billion in 2022.

2021: Apple experienced solid growth in net sales in 2021 compared to the previous year. Its iPhone revenues grew 39% in 2021 compared to 2020. The company also experienced solid growth in its net sales from services. Its services revenues grew 27% in 2021 compared to the previous year. Apple’s revenues from services rose to $68.4 billion in 2021 compared to $53.8 billion in 2020. Services revenue grew mainly due to higher net sales from advertising, the App Store and cloud services.

Apple’s services revenue grew to $53,768 million in 2020 from $46,291 million in 2019. 

Apple’s revenue from the sales of services has grown fast during the past few years. From 2018 to 2019, there was an increase of 16% in Apple’s net revenue from services. In fiscal 2019, Apple generated $46.3 billion from services compared to $39.75 billion in 2018. The revenue from services was around 17.8% of the net revenue of the brand in 2019.

About Apple Inc:

Founded in 1976 by Steve Jobs and Steve Wozniak, Apple Inc. has its headquarters in Cupertino, California, United States. The company is a leading technology brand and the maker of iPhone, Mac, and iPads. Apart from it, Apple also sells a nice range of wearables and services. The company has experienced solid growth in net revenue in 2021 compared to the previous year. Its net revenue in 2021 grew to $364.8 billion compared to $274.5 billion in 2020.

Apple’s market cap is higher than $2.5 Trillion and it is the first company whose market cap exceeded 2 trillions. The company is currently led by CEO Tim Cook.