Apple’s latest earnings report is out, and as many had expected, it’s very much on-trend with the numbers we’ve seen coming out of Cupertino this year. The company managed to grow its overall revenue a little, raking in a total of $53.8 billion compared to $53.3 billion this time last year. That’s not a huge amount of growth, but it was enough to claim an all-time Q3 revenue record, according to CEO Tim Cook. Unfortunately, Apple’s iPhone sales showed little sign of recovering the company saw just under $26 billion in iPhone sales this quarter, continuing a streak of year-over-year declines.
Apple CEO Tim Cook said that wearables had an “absolute “blowout” quarter with growth well over 50 percent. Apple Watch set a new June quarter revenue record and is reaching millions of new users. More than 75 percent of buyers in the June quarter were first time Apple Watch buyers.
Apple’s services category, which hit a new all-time high revenue record of $11.46 billion, also helped Apple make up for the 12 percent decline in iPhone revenue.
Wearables and services combined are now the size of a Fortune 50 company according to Cook. Cook also said that Apple’s wearables business is larger than 60 percent of companies in the Fortune 500.
