Earlier today, Apple officially announced its fiscal fourth quarterly earnings, revealing another strong three month stretch for the company.
Following that, Apple’s CEO, Tim Cook, and the company’s CFO, Luca Maestri, sat down on a conference call to discuss the earnings report and answer the questions they want to answer. While the iPhone and Apple’s other hardware is still pulling in strong numbers for the company, it’s the Services division that continues to impress.
The Services division includes iTunes, the Mac App Store, the App Store, AppleCare, Apple Pay, and others. It has become one of the major tent poles for Apple over the recent years, and it will continue to be so moving forward. While Apple Music, the App Store, Apple Pay, and other areas are integral in their own regard, new subscription services like Apple Card, Apple Arcade, and the forthcoming Apple TV+ will play a huge role in the years ahead.
But that doesn’t mean Apple isn’t already in a good spot. In the third fiscal quarter, Apple confirmed that Services revenue had reached an all-time high of $11.46 billion, which set another record for the company. Just three months later and the Services revenue has basically skyrocketed, reaching a new all-time high of $12.5 billion.
Cook had positive things to say in the initial announcement today regarding Services revenue:
We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad,” said Tim Cook, Apple’s CEO. “With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store.
Cook broke it down a bit more beyond this. The company reached new all-time highs in the App Store, Apple Music, AppleCare, and the search ad business.
As far as Apple Pay is concerned, Cook said that it reached record revenue from payment services. The mobile payment option is in 49 markets with over 6,000 issuers.
As for the Apple Card, Cook says that feedback for the company’s first credit card is positive. And the company is going to let Apple Card owners actually buy a new iPhone with 0% interest, with payments spread out over 24 months. They will earn 3% cash back off the total price of the iPhone, too.
Apple’s conference call is still ongoing, so we will update this article when any relevant information presents itself.