Apple Reports $12.7 Billion USD Record Revenue From Services Sales
With better-than-expected results across the board.
Yesterday, tech giant Apple released its financial reports for the first fiscal quarter of 2020, revealing a better-than-expected total of revenue of $91.8 billion USD. Amid the generally positive results was a record high revenue generated from the net sales of its services, such as iCloud, Apple Music, Apple Arcade and Apple TV+, which brought in a whopping $12.7 billion USD, marking a 17 percent year-over-year increase.
While Apple no longer provides data on unit sales of its various products, Tech Crunch looked at the company’s net sales and estimates that Apple’s wearables and home and accessories category also saw immense growth, hitting the $10 billion USD mark in revenue as compared to just $7.3 billion USD last year. According to the publication, iPhone sales also went up, now accounting for roughly $56 billion USD, a $4 billion USD increase during the same period last year.
Unfortunately, both the iPad and iMac lines have seen a decline in sales, though figures have dropped by less than $1 billion USD for each category.
For more Apple news, the tech giant has just filed patents for an all-in-one iMac design.
