Apple Reports Record-Breaking Q3 Earnings, Digital Up By 50% In 12 Months

Apple Reports Record-Breaking Q3 Earnings, Digital Up By 50% In 12 Months

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CUPERTINO, Calif. (CelebrityAccess) – Apple has this week reported record-breaking Q3 results of $9.55 billion USD for its services division, which includes Apple Music. The digital streaming service has reportedly shown growth of upwards of 50% in the past 12 months.

While the company is still trailing behind Spotify, which has a reported 83 million subscribers worldwide, Apple CEO Tim Cook indicated that Apple Music has now surpassed the previously reported number of 50 million subscribers and trial users originally announced back in May.

The company also posted an overall quarterly revenue of $53.3bn USD, which is an increase of 17% from 2017’s Q3. Overall profit was up 32% to $11.52bn USD with international sales accounting for 60% of the quarter’s revenue.

According to Music Week, those sorts of numbers could put Apple on course to become the first trillion-dollar company in the US.

“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Cook. “Our Q3 results were driven by continued strong sales of iPhone, Services, and Wearables, and we are very excited about the products and services in our pipeline.”

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