Apple's Services Business Grows to $12.5 Billion in Quarterly Revenue

The company is two days away from the launch of its Apple TV+ subscription video service.

The tech giant, which has long relied on the sale of devices like iPhones and Mac computers to drive its business, earned $12.5 billion from non-hardware offerings like Apple Music, Apple Pay and iCloud during the three-month period from July to September. That represents 18% growth and an all-time high for the segment compared with the same period last year, but products continue to be the main driver for the company. During the fiscal fourth quarter the company had $51.

"We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad," Apple CEO Tim Cook said in a statement.

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Apple Tops Earnings Estimates, Posts Record $12.5 Billion Services RevenueAhead of its debut of Apple TV Plus, Apple posted financial results for the September 2019 quarter that were well above Wall Street estimates and included an all-time high $12.5 billion in services… Apple tops earnings estimates, posts record $12.5 Billion services revenue. 🎃🥺💕😃❤️
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