Apple Records Strong Profits In Services, Wearables

Apple on Wednesday reported strong-than-expected profits for the past quarter, fueled by growth in digital services and wearables that helped offset slower iPhone sales.

Profit in the quarter ending in September dipped four percent from a year ago to $13.7 billion while revenues edged up two percent to $64 billion.

Apple, set to launch a new streaming television service this week, saw strong revenue gains in its services segment, which includes music, digital payments and software, and in its segment for wearables and accessories that include its Home Pod, Apple Watch and earbuds.

Chief executive Tim Cook said Apple saw its best-ever revenue gains for the fiscal fourth-quarter period.

“With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-canceling 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,” Cook said.

AFP