Apple Harvests Fresh Third Quarter Revenue Results

Apple has released its third-quarter revenue results for its fiscal year, reporting sweet numbers on its services division and slightly bruised earnings concerning its hardware products. Here’s a bite-sized breakdown:

The highlights: According to the company’s published results, Apple brought in $81.8 billion in total revenue this quarter, demonstrating a 1.4% year-on-year decrease. Their shining star in Q3, however, was their service products revenue, as opposed to earnings from hardware like iPhones, Macs and iPads, each of which experienced decreases in sales ranging from 2.4% - 19.8%. 

In fact, Apple services – including Apple Music – raked in $21.21 billion, a 8.2% year-on-year increase. That’s more than Apple’s combined sales of Macs, iPads, wearables, home devices and accessories in Q3.

The tech giant also confirmed that their subscriber count across all services, including video, apps and games, has now surpassed one billion, a new company record. There were no specific figures for Apple Music, but the company did set a new June-quarter record for its music revenues.

What they’re saying: "We are happy to report that we had an all-time revenue record in Services during the June quarter, driven by over one billion paid subscriptions, and we saw continued strength in emerging markets thanks to robust sales of iPhone," said Apple CEO Tim Cook. "From education to the environment, we are continuing to advance our values, while championing innovation that enriches the lives of our customers and leaves the world better than we found it.”