Apple announced its financial results for the second quarter of the current year, the third for the company, reporting a slight 1% decline in revenue on a yearly basis.
However, the company’s performance during the past quarter exceeded the expectations of many analysts.
The growth of Apple’s services revenues compensated for the slowdown in iPhone sales during this quarter.
Apple’s CEO, Tim Cook, stated in a press release published on the official Apple website, “We are delighted to announce that we achieved a record-high in services revenue during the last quarter of June, driven by more than one billion subscriptions.
We have witnessed sustained strength in emerging markets, thanks to strong iPhone sales there.”
Apple’s Chief Financial Officer, Luca Maestri, added that the number of active Apple devices reached an all-time high in every geographic region worldwide, without specifying a particular figure.
Apple had previously announced that the number of active devices surpassed two billion in February last year.
The services sector at Apple has experienced significant growth over the past few years, thanks to the development of traditional services such as the App Store and iCloud, in addition to the launch of a diverse range of new services.
During the last fiscal quarter, Apple’s total revenue reached $81.79 billion, with net profits of $19.88 billion, the services alone contributed $21.21 billion in revenue during this quarter, accounting for about 26% of the company’s total revenue, making it the second-largest source of Apple’s revenues after the iPhone.
