Aug 1, 2017
Apple sales boosted by services growth
Technology giant Apple, best known for its iPhones and computers, said newer lines of business such as Apple Pay, App Store and Apple Music had helped to drive growth in its third quarter. Apple's Services unit had sales of nearly $7.3bn during the three months to the end of June, a rise of 22% higher on the same period last year. Apple still makes the bulk of its revenue from iPhones, which had experienced an unexpected sales decline earlier this year. Apple, which introduced a new iPad, said the number of iPads sold climbed 28% year-on-year, while revenues from the product increased 2%. Revenue from other products, such as the Apple Watch, Apple TV and Beats headphones, also jumped 23% year-on-year. Apple's Services department - App Store and Apple Music, mostly - had revenues of more than $7.2bn in this last quarter.
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