Apple Revenue from Services

Revenue of Apple Inc from Services 2013-2022

Amounts are in $millions.

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.

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.