Apple's services division, which includes Apple Pay, Apple Music, iTunes and the App Store—among others—reached an all-time revenue high in the fourth fiscal quarter, according to the company’s October 30 earnings report. Apple’s quarterly services revenue climbed to $12.5 billion. According to Apple’s press release, the company generated a revenue of $64.0 billion and $3.03 per diluted share. This is another consecutive increase for Apple, who posted a revenue of $62.9 billion and $2.91 per diluted share in the year-ago quarter.
Wearables like Apple Watch, Beats and AirPods also generated all-time service revenue records, growing 40 percent year-over-year. More, Apple has accumulated 450 million paying subscribers on their platform. In November, Apple is slated to launch Apple TV+ in more than 100 regions and countries. Out of the company’s 33 percent gross margin mix, services attributed to for 20 percent of Apple's revenue mix.