Apple Services Hit All-Time High of Over $31 Billion
The tech conglomerate beat Wall Street expectations with revenue hitting $114.48 billion The post Apple Services Hit All-Time High of Over $31 Billion appeared first on TheWrap .
Apple Services reported an all-time high of $31.57 billion in revenue for the quarter, driven by strong performance in Apple TV, Apple Music, iCloud, and the App Store. The tech giant surpassed Wall Street expectations, with net sales of $114.48 billion and earnings of $2.10 per share, compared to the estimated $113.35 billion in revenue and $1.99 per share in profit.
The quarter marked a 11.72% increase in revenue and a 13.51% rise in earnings compared to the same period last year. iPhone sales were the primary contributor to the growth, reaching a record $57.58 billion. The earnings call, helmed by new CEO John Ternus who took over from Tim Cook on September 1, highlighted the company's optimism for the future in this sector.
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