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.