Apple Services revenue hit record $12.5bn in Q4 2019

Apple posted its Q4 2019 financial results today (October 30) for the three months ended September 28, 2019.

The company has posted a record $12.5bn in services revenues for the quarter, up from $10.6bn in Q4 2018.

Total revenue for Q4 2019 was $64 billion, an increase of 2% YoY.

It was revealed in Apple’s earnings call today that it now has 450 million paid subscriptions across all of its services, compared to 330m “just a year ago”.

Apple forecasts that it will hit 500m paid subscriptions in 2020.

Elsewhere in the company’s Q4 2019 results, Apple reports that sales from iPhones fell from $7.3bn in Q4 2018 to $6.9bn in Q4 2019.

Sales from Wearables, Home and Accessories grew from $4.2bn in Q4 2018 to $6.5bn in Q4 2019.

Breaking down the company’s figures geographically (see below) reveals that sales in the Americas saw an increase, from $27.5bn in Q4 2018 to $29.3bn in Q4 2019.

Apple saw its sales in Japan decline from $5.1bn in Q4 2018 to $4.9bn in Q4 2019, with sales in Greater China dipping from $11.4bn in Q4 2018 to $11.1bn in Q4 2019.


 


“We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad.”

Tim Cook, Apple

Tim Cook (pictured), Apple’s CEO, said: “We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad.

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

Luca Maestri, Apple’s CFO aded: “Our strong business performance drove record Q4 EPS of $3.03 and record Q4 operating cash flow of $19.9 billion.

“We also returned over $21 billion to shareholders, including almost $18 billion in share repurchases and $3.5 billion in dividends and equivalents, as we continue on our path to reaching a net cash neutral position over time.”Music Business Worldwide

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