Services Become Apple's Growth Engine

Apple forecast its revenues will rise between 3% and 7% year-on-year to between 43.5 billion and 45.5 billion US dollars in the current quarter.  In the quarter ending April 1st, revenues rose 5% to 52.9 billion dollars, fuelled by a 18% increase in services revenue to 7.04 billion dollars.

“Our services business grew 19% year-over-year and App Store revenue was the highest ever, as our installed base continued to grow and transacting customers hit an all-time record,” said Luca Maestri, Apple’s CFO. source: Apple statement