“Despite soft iPhone sales in the holiday quarter, Apple topped Wall Street’s profit target and reported record earnings,” Patrick Seitz reports for Investor’s Business Daily. “The Apple earnings report showed that the company is more than just an iPhone maker as other businesses picked up the slack.”
“Apple earned $4.18 a share on sales of $84.3 billion in the quarter ended Dec. 29,” Seitz reports. “Analysts expected Apple earnings of $4.17 a share on sales of $84 billion. On a year-over-year basis, earnings per share rose 7% while sales fell 5%.”
“Services were Apple’s second-largest business last quarter, making up 12.9% of total revenue and growing 19% year over year,” Seitz reports. “On a conference call with analysts, Apple Chief Financial Officer Luca Maestri said Apple has an active installed base of 1.4 billion devices. That includes 900 million iPhones in use, he said. Apple’s services generated a new all-time high of $10.9 billion in the first quarter. Its services include Apple Music, Apple Pay, iCloud, AppleCare and other offerings.”
Read more in the full article here.
MacDailyNews Take: iPhone still accounted for 61.7% of Apple’s total revenue for Q119, but the company has always been more than just “the iPhone maker.” Uh, hello, Macintosh? iPad? Services? It’s just that iPhone is so large, it often occludes all else to those who don’t or won’t look beyond it.