Apple Logs $58-billion Revenue, Services Hits High Record

Cupertino (California): Riding on the growth in its Services and wearable segments, Apple has posted a revenue of $58 billion for its second quarter of 2019 — a decline of 5 per cent from the year-ago quarter. The revenue from iPhones was $31.05 billion — down from the year-ago quarter but enough to make up over 53 per cent of the entire revenue.

The revenue from Apple’s non-hardware business like iCloud, Apple Music and App Store surged to $11.5 billion this quarter. “Our March quarter results show the continued strength of our installed base of over 1.4 billion active devices, as we set an all-time record for Services, and the strong momentum of our Wearables, Home and Accessories category, which set a new March quarter record,” Apple CEO Tim Cook said in a statement late Tuesday. This is a good quarter for Apple compared to the last one where the company admitted poor iPhone sales and revised its earnings guidance. (IANS)

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