Apple Reports Record High Revenue of $11.5B for Services
Services revenue now represent nearly 20 percent of total revenue.
On Tuesday, Apple (NASDAQ: APPL) reported record services revenue of $11.5 billion for the second quarter of its fiscal year 2019, for the period ended March 30, 2019. Total revenue for the period was $58 billion, down 5 percent year-over-year. Quarterly earnings were $2.46 per diluted share, down 10 percent year-over-year. Services revenue, which includes subscription revenue, now comprises 19.8% of Apple’s total revenue, a strategic shift that allows the tech giant to rely less heavily on products. Product revenue made up the balance of revenue at $46.6 billion.
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