Services revenue is the money a hardware company earns from things that are not hardware: app-store commissions, subscriptions, cloud storage, advertising, warranties and search deals.
「服务收入」
| Move变动 | Where it appeared出现位置 | What it means这句话在说什么 |
|---|---|---|
| — | Apple's new CEO moves to overhaul the company to run faster and leaner 「服务收入」 · 第 3 张术语卡 | Apple's services revenue growth is slowing, which is why Ternus, Eddy Cue and Kevan Parekh have discussed launching new services and earning more from existing products. 为什么投资者盯着服务收入：它的毛利率远高于硬件，而且是重复发生的（用户续订、续费），不需要每年重新卖一次。硬件收入是「一次性」的，服务收入是「年年都有」的 —— 后者越多，整家公司的估值倍数通常越高。苹果的处境是：硬件卖得还行，但服务增速在掉，于是管理层要去找新服务、并「从现有产品上赚更多」。对读者来说，这是判断苹果能不能保住高估值的关键变量。 |