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Apple’s services revenue reached new all-time high

Services revenue grew from $7.9 billion in the fourth quarter of fiscal 2017 to $10 billion in the fourth quarter

Apple’s services revenue reached new all-time high. Source: shutterstock.com

Apple announced financial results for its fiscal 2018 fourth quarter ended September 29, 2018. The company posted quarterly revenue of $62.9 billion, an increase of 20% from the year-ago quarter. International sales accounted for 61% of the quarter’s revenue.

Services revenue reached an all-time high of $10 billion. Excluding a one-time favorable adjustment of $640 million recognized in the fourth quarter of fiscal 2017, Services revenue grew from $7.9 billion in the fourth quarter of fiscal 2017 to $10 billion in the fourth quarter of fiscal 2018, an increase of 27%.

We're thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018, the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple's history. Over the past two months, we've delivered huge advancements for our customers through new versions of iPhone, Apple Watch, iPad and Mac as well as our four operating systems, and we enter the holiday season with our strongest lineup of products and services ever
Tim Cook, Apple's CEO

SEE ALSO: How to set up & use Apple Pay

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