Apple says gaming slowdown and App Store changes hurt services growth

Apple’s services revenue missed Q3 estimates at $30.74 billion even as paid subscriptions topped 1.5 billion.

The shortfall was blamed on foreign exchange, softer mobile gaming, and App Store payment-rule changes in the U.S.

Apple said the App Store still set a June-quarter record and that other services, including Ads, Music, TV, Cash and Klarna, remained strong.

The miss matters because services is Apple’s high-margin growth engine and faces rising regulatory pressure.