Apple’s iPhone sales are slowly dwindling in importance to the financial success of the company as sales slow and the company’s other divisions pick up speed.
Apple’s stock remained largely unchanged after-hours following the release of its Q4 earnings. The company delivered earnings per share $3.03 versus the street’s estimate of $2.84 Est. on revenue of $64 billion compared with expectation at $62.99 billion.
The big story continues to be major growth in Services, iPad and Wearables while iPhone and Mac sales continue to shrink year-over-year.
As you’ll remember Apple no longer reports unit sales of its iPhone, Mac and iPad lines, something that is largely the result of declining unit sales and higher average selling prices. Services, Wearables and Other, and iPad saw year-over-year gains, while the iPhone and Mac lines are still seeing revenue slumps.
- iPhone sales were down 9% year-over-year to $33.36 billion
- Services were up 18% YoY to $12.5 billion
- Mac sales were down 5% YoY to $6.99 billion
- “Wearables, Home, and Accessories” were up 54% YoY to $6.52 billion:
- iPad sales were up 17% YoY to $4.66 billion
The company is continuing to add to some of its highest growth businesses. The company announced the release of a new high-end set of AirPods yesterday which will likely increase average selling prices among its wearables division. The company also has a number of paid services including Apple TV+ that will be launching soon.
Written by Lucas Matney
This news first appeared on https://techcrunch.com/2019/10/30/apple-beats-on-q4-earnings-after-strong-quarter-for-wearables-services/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29 under the title “Apple beats on Q4 earnings after strong quarter for wearables, services”. Bolchha Nepal is not responsible or affiliated towards the opinion expressed in this news article.
