What’s Happening:
Apple’s first-quarter 2019 earnings call revealed strong growth for the company, with its monthly active Apple news user rate hitting 85 million. The roll-out of Apple News to more countries will help drive growth, and the relaunch of its Texture acquisition as a paid news subscription service is set to hit as early as spring.
Chief Executive Officer Tim Cook shared additional updates on growth in Apple Pay, Apple Music and more. The new record of $10.9 billion in revenue represents a 19% services growth year-over-year. For the first time, Apple chose not to break down its revenue by iPhone, iPad and Mac categories.
What it Means:
Of the earnings call, Cook said, “That’s a great testament to the satisfaction and loyalty of our customers, and it’s driving our Services business to new records thanks to our large and fast-growing ecosystem.”
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