> Given the places where ads are even a thing, $3.5B seems excessive. I agree. I see the ads primarily in the News app and it is almost always the same 2-3 ads

> Given the places where ads are even a thing, $3.5B seems excessive. I agree. I see the ads primarily in the News app and it is almost always the same 2-3 ads. Of course, I am not going to extrapolate that to all the Apple News readers. That's why I was curious to learn how the OP on Twitter found these numbers. In their 10-Qs and 10-Ks, Apple has been consolidating the revenue streams and expenses under larger items (e.g., advertising spending is now not disclosed separately but only as a part of SG&A expenses, iPhone sales by model are no longer disclosed). As such, finding out their ad business is not easy by any means.