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Apple reports record-high services revenue for Q3

Apple has shared its results from the third quarter of its 2019 fiscal year. Its revenue for the period ending June 29 reached $53.8 billion, up just 1% from the third quarter of 2018. The slight bump in revenue made this period Apple’s biggest June quarter to date. Net income totaled $10.04 billion, or $2.18 per share, compared with income of nearly $11.52 billion, or $2.34 per share, in the year-ago period.

The company’s revenue was driven by an all-time high in revenue from its Services division. That unit posted revenue of almost $11.46 billion. The division for Wearables, Home and Accessories generated revenue of about $5.53 billion. Apple doesn’t break out specifics for audio-focused products, but the Services branch includes its Apple Music streaming platform and the Accessories segment includes items such as the HomePod smart speak and the Airpod wireless headbuds.

“This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends,” CEO Tim Cook said. “These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products.”

Anna Washenko

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