Apple's Services Business Grows to $12.5 Billion in Quarterly Revenue

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Apple's Services Business Grows to $12.5 Billion in Quarterly Revenue
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Apple is two days away from the launch of its Apple TV+ subscription video service

The company is two days away from the launch of its Apple TV+ subscription video service.

The tech giant, which has long relied on the sale of devices like iPhones and Mac computers to drive its business, earned $12.5 billion from non-hardware offerings like Apple Music, Apple Pay and iCloud during the three-month period from July to September. That represents 18% growth and an all-time high for the segment compared with the same period last year, but products continue to be the main driver for the company. During the fiscal fourth quarter the company had $51.

"We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad," Apple CEO Tim Cook said in a statement.

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