Apple Services Business Grows Double Digits, Helps Boost Quarterly Revenue

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Double-digit growth to Apple's services business helped the tech giant weather a difficult quarter amid the ongoing global coronavirus pandemic.

An Apple Music logo seen displayed on a smartphone.

Though that represents a nearly 15 percent growth rate compared with the same period in 2019, services is still less than a third of the size of Apple's products division, which brought in $46.5 billion during the fiscal third quarter., just one day after appearing before Congress, told investors that the double-digit growth for both products and services"is a testament to the important role our products play in our customers' lives and to Apple's relentless innovation.

Investors responded favorably to the earnings news, and the stock was trading up nearly 5 percent after hours.

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