Apple has shared its official Q3 2019 earnings results, announcing $53.8 billion of revenue and $10.04 billion profit during the third fiscal quarter of 2019.
Within a live session, Apple CEO Tim Cook took to the mic to share some interesting tidbits, such as how Apple Pay is now adding more new users than PayPal, that Apple is seeing strong sales performance for Mac, that wearables revenue is topping 60% of Fortune 500 companies, and much more.
Here’s everything shared by Tim Cook…
- iPhone revenue is down 12% from last June quarter
- New third quarter revenue record for App Store and many other services
- Apple surpassed 420 million paid services subscribers and remains on track to double its FY16 Services revenue by FY2020
- Apple Pay is now completing nearly 1B transactions per month. More than 2x volume from a year ago
- Apple Pay is now adding more new users than PayPal, and monthly transaction volume is growing four times as fast
- Apple Pay will launch for Chicago transit later this year
- Thousands of Apple employees are using Apple Card everyday – launching officially in August
- Apple’s wearables revenue is topping 60% of Fortune 500 companies
- Strong performance for Mac
- Apple Watch ECG app will arrive in new locations later this year
- So much to look forward to, including new services like Apple Arcade, Apple TV+, and Apple Card
- “Several products” coming soon