The Strategist

Apple posts $13.7 bln profit on $64 bln revenue

10/31/2019 - 06:41

Apple reported quarterly revenue growth by 2%; the sum amounted to $ 64 billion. Profit fell by 4% compared to last year, to $ 13.7 billion, AFP reports.

Apple is getting ready to launch a new streaming TV service this week, and reports a significant revenue growth in the service segment, which includes music, digital payments and software products, as well as the accessories segment. Chief Executive Officer Tim Cook said Apple showed the best revenue growth for the fourth fiscal quarter. Apple shares on the background of reporting rose by 2%.

Apple’s revenue in the second quarter reached $ 58 billion, which is 5% less than during the same period last year. Net income per share for the quarter was $ 2.46, down 10%. 61% of Apple's quarterly revenue came from international sales.