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TIM COOK DIVES INTO APPLE'S NUMBERS

After Apple announced that it had beaten Wall Street estimates and that iPhone sales were going strong, CEO Tim Cook spoke about the division with iTunes and Apple Music.

Apple Services, which includes the company’s music offerings, posted record revenue of $9.2 billion, up more than $2b from last year and double the services revenue generated in the January-March quarter four years ago.

Cook said revenue in services was up more than 25% year-over-year in each of the company’s five geographic segments.

“We had all-time record revenue from the App Store, from Apple Music, from iCloud, from Apple Pay and more,” he told investors, according to the SeekingAlpha transcript of the call. “We're on target to our 2020 goal of doubling the services revenue of 2016.”

Across all services, paid subscriptions surpassed 270m, an increase of 100m from a year ago and a $30m spike in the last 90 days.

He also noted that the wearables business, which includes Beats headphones and AirPods, is up nearly 50% year-over-year. He called the AirPod earpieces “a runaway hit.”

The company also plans to create more than 20k U.S. jobs over the next five years, and expect to announce the location of its next campus later this year. 

 

 

 

 

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