Cook improves Apple turnover

Apple has announced record Q4 revenues of $64bn – a 2% increase over the same quarter in 2018 despite a $3.4bn drop in iPhone sales – $33.36bn compared to $36.76bn in Q3 2018.

The iPhone accounted for 48.3% of Apple’s overall revenue, the first time that it hasn’t contributed over half of Apple’s sales since 2012. Weakness in iPhone sales was partially offset by strength in the Mac and Wearables divisions (Apple Watch, AirPods, and Beats headphones).

Services revenue, which includes subscriptions, App Store fees, and other online services, also grew by 13% or $12.5bn compared to $11.46bn in Q4 2018. Apple now has more than 450m paid subscriptions on its platform, up from 330m a year ago.

We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fuelled by accelerating growth from Services, Wearables and iPad. With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store.

Tim Cook, CEO, Apple