Apple Ups Q4 ‘Services’ Revenue 27%

Apple services revenue, which includes sales of digital movies and TV shows on iTunes and Apple TV, remains an emerging giant.

The tech company Nov. 1 reported fourth-quarter (ended Sept. 29) services revenue of more than $10 billion, up 27% from services revenue of $7.9 billion during the previous-year period.

The segment, which also includes AppleCare, Apple Pay, licensing and other services, benefited from a one-time adjustment of $640 million due to a change in estimate based on the availability of additional supporting information.

Overall, Apple generated net income of $14.1 billion on revenue of $62.9 billion, compared to income of $10.7 billion and revenue of $52.5 billion last year.

The company sold more than 46.8 million iPhones, 9.7 million iPads and 5.3 million Macs in the quarter.

“We set September quarter revenue records for iPhone and wearables and all-time quarterly records for services and Mac,” CFO Luca Maestri said in a statement.

 

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