Apple iTunes, software, and services revenue quarterly FY 2013-2026

Apple's revenue from iTunes, software and services from fiscal 1st quarter 2013 to 2nd quarter 2026

Services has become the engine of Apple growth. Once a small line called iTunes, software and services, the category, now reported as Services, has grown from under 4 billion dollars a quarter in fiscal 2013 to a record above 30 billion dollars a quarter in fiscal 2026. This report tracks Apple iTunes, software and services revenue every quarter from fiscal 2013 to the second quarter of fiscal 2026.

The Services segment bundles the App Store, Apple Music, Apple TV+, iCloud, AppleCare, Apple Pay, advertising and licensing, the recurring, high-margin revenue Apple earns after a device is sold. In fiscal 2026 the segment set new records in both quarters, reaching 30.98 billion dollars in the March quarter. The hardware that feeds it, including the latest headset, is covered in our Apple Vision Pro accessories analysis.

The scale of the growth is striking. Services revenue has risen almost without interruption for more than a decade, posting double-digit annual growth in most years even as Apple total revenue plateaued. It is now Apple second-largest segment after the iPhone, and by far its fastest-growing, reshaping how investors value the company. The market increasingly prices Apple as much on Services as on hardware. That shift in perception is itself a milestone for the company.

A note on the data. Annual Services figures are reported actuals in U.S. dollars. The most recent quarters, fiscal 2024 through 2026, are as Apple reported them; earlier quarters are split from reported annual totals using the segment mild seasonal pattern, because Apple did not always publish Services on the same quarterly basis. Apple also revised its Services definition around 2018. Where that change affects the figures, it is noted in the methodology. Readers can treat the broad trend as solid even where exact quarters are estimated. The shape of the growth is not in doubt.

Apple Services Revenue by Quarter, FY 2013-2026

The table lists Apple Services revenue for every quarter from fiscal 2013 to the second quarter of fiscal 2026, with each quarter fiscal year and the year-on-year change. The figures climb almost every quarter, from under 4 billion dollars in 2013 to above 30 billion in 2026. Sorting the columns shows both the steady ascent and the mild within-year seasonality of the segment. The numbers reward a closer look at how evenly the growth has spread. Almost every cell in the table is larger than the one above it. The few exceptions reflect only the gentle seasonal dip. The underlying direction never wavers for long.

A Sevenfold Rise

On an annual basis, the growth is even clearer. Services revenue rose from about 16 billion dollars in fiscal 2013 to roughly 109 billion dollars in fiscal 2025, a near sevenfold increase in twelve years. The fiscal 2026 part-year total, covering only the first two quarters, already exceeds 60 billion dollars, putting the segment on course for another record full year. At the current run-rate the segment is heading toward 120 billion dollars for fiscal 2026. That would extend the streak of record years without interruption. Momentum, once established here, has been hard to stop. A decade of compounding has built real inertia. Reversing such a trend would take a major shock. Nothing on the horizon currently threatens it.

Each year has added more revenue than the last in absolute terms. The segment crossed 20 billion dollars in fiscal 2016, 40 billion around fiscal 2018, and 100 billion in fiscal 2025. This compounding growth has made Services a larger business than the entire Mac line, as our Apple Mac revenue analysis shows, and comparable in scale to the iPad and Mac segments combined. Few would have predicted such scale from the modest iTunes category of a decade ago. The segment has outgrown its own origins many times over. What began as media downloads is now a vast services empire. The breadth of today offerings would be unrecognisable in 2013.

The annual trajectory has been remarkably smooth for a business of its size. Unlike Apple hardware lines, which swing with product cycles, Services has grown steadily because much of its revenue is recurring, subscriptions, storage, warranties and a cut of every App Store sale. That smoothness is one reason investors prize the segment so highly, valuing it more like a software company than a hardware maker. That re-rating has been worth hundreds of billions of dollars in market value. The quality of the revenue, not just its size, drives that premium.

Durable Double Digits

Services has sustained double-digit annual growth for most of its history, a rare feat for a business of its scale. Growth ran above 20 percent in the late 2010s, peaking around 27 percent in fiscal 2021 as pandemic-era digital spending surged, before settling into a steadier low double-digit pace of 12 to 14 percent in recent years.

Even the slower recent growth is impressive given the base. Adding 12 percent to a 100-billion-dollar business means roughly 13 billion dollars of new revenue a year, more than the entire annual revenue of many large companies. The fiscal 2023 slowdown to single digits proved temporary, with growth re-accelerating in 2024 and 2025, as reflected in our The brief dip proved to be a pause rather than a turning point, a point clear in our Apple total revenue analysis.

The durability of this growth is what sets Services apart. Where iPhone revenue rises and falls with each launch cycle, Services climbs in nearly every quarter, giving Apple a dependable, expanding base of high-margin income. This consistency has become central to the investment case for Apple, smoothing the lumpiness of its hardware business. Investors increasingly treat Services as the steady core of the Apple story. It is the part of the business they can forecast with the most confidence. Predictability is a rare and valuable trait in technology revenue. It lets Apple plan and investors model with unusual certainty. That confidence is part of the segment value.

More Than a Quarter

As Services has grown, so has its share of Apple total revenue. The segment accounted for under 10 percent of company revenue in fiscal 2013. By fiscal 2025 it had risen to roughly 26 percent, more than a quarter of everything Apple sells, even as total revenue itself grew strongly over the period.

This rising share matters because Services carries far higher margins than hardware. A dollar of Services revenue contributes much more to profit than a dollar of iPhone or Mac revenue, which is why the segment growing share has lifted Apple overall profitability, a pattern visible in our Apple net income analysis. Services now drives a disproportionate part of company profit. Its margin advantage magnifies every dollar of revenue it adds. The profit impact of the segment outweighs its already large revenue. In profit terms, Services punches well above its revenue weight. That leverage is central to why the segment matters so much. It is the clearest example of quality over quantity in Apple results.

The share would be higher still but for the strength of the iPhone, which remains Apple largest segment and grew sharply in fiscal 2026, as our Apple iPhone revenue analysis shows. Even so, the long-term direction is clear: Services is steadily claiming a larger slice of Apple revenue, and an even larger slice of its profit, year after year. The trend has been remarkably steady across more than a decade. Steadiness on this scale is rare among businesses of any kind.

Records Almost Every Quarter

The most recent quarters show the segment at full strength. From fiscal 2024 through fiscal 2026, Services set a new all-time revenue record almost every single quarter, climbing from about 23 billion dollars in early fiscal 2024 to 30.98 billion dollars in the second quarter of fiscal 2026, the highest in the segment history. Each new quarter has tended to reset the record set by the one before. The pattern of serial records has become routine for the segment. Each earnings season brings another high to report. The cadence of records has become part of the Apple narrative.

This run of records reflects broad-based strength across the segment. Apple has cited growth in advertising, the App Store and cloud services as the main drivers, alongside steady gains in subscriptions and AppleCare. The breadth of the growth, spread across many sub-services rather than one, is what makes it so durable. No single service can derail the segment by stumbling. That spread of risk is a quiet strength of the business.

The recent quarters also show Services growth outpacing the company as a whole in most periods, steadily lifting its share of revenue. With Apple installed base now above two and a half billion active devices, each one a potential Services customer, the segment has a vast and still-growing foundation to build on, a scale set in context by our Few companies anywhere can match that reach, as shown in our big tech revenue comparison analysis.

Over 600 Billion Booked

Adding up every quarter since fiscal 2013 shows the cumulative scale of the Services business. In total, Apple has booked well over 600 billion dollars in Services revenue across the period, a figure that has grown faster in recent years as quarterly revenue has climbed toward 30 billion dollars.

The shape of the cumulative curve tells the story of acceleration. The first 100 billion dollars of cumulative Services revenue took several years to accumulate; the most recent 100 billion took barely more than a year, as the quarterly run-rate has more than tripled since the middle of the last decade. The curve steepens visibly toward the present. Acceleration, not just growth, is the defining feature of the chart. The slope of the curve has steepened with almost every passing year.

This cumulative total underlines how Services has quietly become one of the largest software-and-content businesses in the world. The revenue it has generated over the period rivals the lifetime revenue of major standalone technology companies, yet it sits as just one segment within Apple, a scale reflected in our biggest companies by market value analysis.

The Average Quarter Transformed

Grouping the data into eras shows how the average quarter has transformed. In fiscal 2013 to 2015, Services averaged under 5 billion dollars a quarter. By fiscal 2019 to 2021 that had risen to about 14 billion, and in fiscal 2025 to 2026 the average quarter exceeds 28 billion dollars, roughly six times the early-period figure. The transformation in a single decade is hard to overstate. A side business has become one of Apple defining strengths. The shift has reshaped the entire company financial profile.

Each era has also seen the segment broaden. The early years were dominated by the App Store and iTunes; later eras added Apple Music, iCloud at scale, AppleCare, Apple Pay, advertising and the streaming services. This diversification has both fuelled the growth and made it more resilient, since no single service dominates the total. Diversity has been as important to the segment as growth. The two qualities have reinforced each other throughout. Growth funded new services, and new services drove growth. That virtuous circle remains intact today.

The era view captures the essential point: Services has not just grown, it has changed character, from a modest adjunct to Apple hardware into a major business in its own right. The average quarter today generates more revenue than the entire segment did in a full year as recently as the early 2010s, a transformation echoed across Apple lineup in our Apple revenue by segment analysis.

A Gentle Climb Each Year

Within each fiscal year, Services shows a mild but consistent seasonal pattern. Unlike the iPhone, whose revenue spikes sharply in the holiday first quarter, Services revenue rises gently across the fiscal year, with each quarter typically a little higher than the last as subscriptions accumulate and usage grows.

The first fiscal quarter, covering the December holiday season, is the lowest as a share of the year, while the fourth quarter, ending in September, is usually the highest. The difference is small, only a couple of percentage points between quarters, reflecting how recurring revenue smooths out the seasonality that dominates Apple hardware sales.

This gentle seasonality is itself a sign of the segment quality. A business whose revenue rises steadily quarter after quarter, with little of the boom-and-bust of product launches, is exactly what investors value, and it stands in sharp contrast to the pronounced seasonality of the iPad business shown in our Apple iPad revenue analysis.

Crossing the Thresholds

Tracking the segment at four-year intervals shows the pace of its climb. In the first quarter of fiscal 2013, Services generated under 4 billion dollars. By early fiscal 2021 a comparable quarter had reached about 16 billion, and by the second quarter of fiscal 2026 it stood at nearly 31 billion dollars, roughly eight times the 2013 figure.

These milestone quarters mark the segment passage through successive thresholds. Services first crossed 10 billion dollars in a quarter in the late 2010s, 20 billion in the early 2020s, and 30 billion in fiscal 2026. Each threshold arrived faster than a simple trend would predict, a sign of the compounding nature of recurring revenue.

The milestones make the abstract growth concrete. A segment that once added a billion dollars of quarterly revenue every few years now adds several billion in a single year. This acceleration is why Services has moved from a footnote in Apple results to one of the most closely watched numbers each quarter, on a par in importance with the iPhone in our share of revenue analysis.

What Makes Up the Segment

Apple does not break out the components of Services, but estimates suggest the App Store is the largest single piece, contributing roughly a third of the total. Advertising, iCloud and cloud storage, AppleCare and Apple Music each add a meaningful share, with the streaming and gaming services, Apple TV+ and Apple Arcade, making up the remainder.

This composition explains the segment resilience. Because the revenue is spread across many distinct services, a slowdown in any one of them has only a limited effect on the total. The App Store remains the anchor, but the growth of advertising and cloud services has reduced the segment dependence on any single source over time.

The internal mix also points to where future growth may come from. Advertising and cloud services have been among the fastest-growing pieces, while the App Store provides a large, steady base. As Apple installed base expands, each component has room to grow, supporting the segment continued climb. The exact split, however, remains a BusinessStats estimate rather than an Apple disclosure.

Apple iTunes, software and services revenue tells the clearest story of where the company is heading. From under 4 billion dollars a quarter in fiscal 2013 to a record 30.98 billion in fiscal 2026, Services has grown almost without pause, posting double-digit annual growth in most years and rising from under 10 percent of Apple revenue to more than a quarter. It is now the company second-largest and fastest-growing segment.

More than its size, it is the character of the Services business, recurring, high-margin and diversified, that has reshaped how Apple is valued. The segment generates a disproportionate share of profit, smooths the lumpiness of hardware cycles, and grows from an installed base of more than two and a half billion devices. For a company long defined by the iPhone, the steady rise of Services is the most important financial trend of the decade, a shift set in the wider context of our Apple Vision Pro price list analysis of where Apple is investing next.

Frequently Asked Questions: Apple Services Revenue