Apple posts strong quarterly services revenues

Apple posts strong quarterly services revenues

Apple has posted record revenues of $88.3 billion (£62.1 billion) for its fiscal Q1 ending December 30, 2017. The figure was up 13% year-on-year.

Within the latest results, Apple’s services division – including Apple Music and Beats 1, iTunes and software – brought in $8.47 billion (£5.96 billion) for the quarter. While that didn’t quite beat the record services revenue of $8.5 billion three months ago, it was up 18% year-on-year.

“We’re thrilled to report the biggest quarter in Apple’s history, with broad-based growth that included the highest revenue ever from a new iPhone lineup. iPhone X surpassed our expectations and has been our top-selling iPhone every week since it shipped in November,” said Tim Cook, Apple’s CEO.

“We’ve also achieved a significant milestone with our active installed base of devices reaching 1.3 billion in January. That’s an increase of 30% in just two years, which is a testament to the popularity of our products and the loyalty and satisfaction of our customers.”

International sales accounted for 65% of the quarter’s revenue.

The tech giant’s next quarterly results will include sales from the launch of its HomePod smart speak on February 9.

Apple Music previously reported subscribers in excess of 30 million last autumn.

author twitter FOLLOW Andre Paine

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