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What you need to know: This weblog captures key data points about the global telecoms industry. I use it as an electronic notebook to support my work for Pringle Media.

Thursday, October 31, 2019

Apple Calls Out Performance of Apple Pay

Apple reported a 3% year-on-year increase in revenue to 64 billion U.S. dollars for the quarter ending September 28, in constant currencies. It said iPhone revenue was 33.4 billion dollars, a year-over-year decline of 9%.

Revenue in Apple's Services division rose 18% to 12.5 billion dollars. Apple said it now has 450 million paid subscriptions across its services portfolio, compared to 330 million a year ago. For Apple Pay, revenue and transactions more than doubled year-over-year to more than three billion transactions in the September quarter, exceeding PayPal's number of transactions and growing four times as fast,  Apple said. Apple Pay is now live in 49 markets around the world and there are 6,000 card issuers on the platform.

Apple expects to report revenue of between 85.5 billion and 89.5 billion dollars for the current quarter, compared with 84.3 billion dollars last year. It said the forecast includes a negative impact from foreign exchange of over 1 billion dollars. Source: transcript of Apple's earnings call from The Motley Fool

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