Cook: Apple service revenue hit record high on Q4 last year

Apple CEO Tim Cook said Wednesday local time that services including Apple Music and iCloud posted an 18 percent increase in fourth-quarter earnings and a new global record, foreign media reported. Cook disclosed on apple-legal earnings call that a range of Apple services contributed $12.5 billion in revenue to the company in the fourth quarter.


“Services (revenue) is up 18 percent,” he said. “


Apple’s service revenue chart

In addition, Cook noted that the growth was global.

“It’s not a local phenomenon, it’s not a narrow success. We have set multiple record highs. We are on our goal of doubling our service revenue in fiscal 2016 by 2020. “

Apple’s services data for the fourth quarter, including revenue from Apple Music and Apple News, are not expected to show up until the next quarter.

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