Apple ‘Services’ Revenue, Including Apple Music, Jumps 15%

Photo Credit: Laurenz Heymann

Apple reports its fourth quarter results, showing its “Services” revenue—including Apple Music—reaching an all-time high with a 15% jump.

Apple saw a nice boost in its Services revenue, which includes Apple Music, for the September 2025 quarter, at 15%. Not only is that a new record, it’s also the highest growth rate this year. That’s a major boon for the company and represents its fastest business segment—and one which hasn’t had a price increase since 2022, unlike the rest of its competitors.

Apple’s Services—the App Store, Apple Pay, Apple TV, Apple Music, and iCloud—saw record revenue of $28.75 billion for the quarter, past Wall Street predictions of $28.17 billion. Notably, the company does not report segment profit or detail the revenue of individual services.

Apple’s overall revenue clocked in at $102.5 billion, up 8% year over year in the quarter ending in September, and beating analyst estimates of $102.24 billion in revenue. Diluted earnings per share were up 13% at $1.85.

Meanwhile, sales of the iPhone, Apple’s largest product line, were up 6% year over year at $49.03 billion. That’s also a record for the company for a September quarter, yet still falls short of analyst predictions of $50.19 billion. However, results include only a few weeks of sales of the latest iPhone 17, which began shipping on September 19.

Apple CEO Tim Cook said on the company’s earnings call that the next quarter could be the biggest to date for both total revenue and iPhone sales with strong demand for the iPhone 17 line. Cook also mentioned Apple’s five-year deal with Formula 1 for broadcast rights in the U.S., beginning in 2026. The $750 million deal is another feather in Apple’s hat, and a big get for Apple TV.

Cook also didn’t seem too worried about Trump’s tariffs, which are expected to have a significant effect on the tech industry. Cook said that Apple had not raised its prices to account for increased costs, and the company incurred $1.1 billion in additional costs related to tariffs in the last quarter. Apple anticipates $1.4 billion in extra tariff-related costs in the last quarter of 2025.