Apple Q4 2018 quarter results: Services revenue record new high

Apple sold 9.7 million iPads, 46.9 million iPhones, and 5.3 million Macs during the quarter.

Apple's revenue from other products recorded the maximum growth, bringing in US$4.23 billion, up by 31% YoY.

Tim Cook, CEO, Apple said, "Our installed base is growing at double-digit".

For the whole of 2018, Apple was set to sell about 2 million phones - a drop of about a million from previous year, he said, as Indians baulk at high prices for the devices, driven by trade tariffs and a weak rupee.

Apple offered no detailed breakdown of iPhone sales, but Cook said "the response has been powerful" to the new 10S models that sell for USD1,000 and up.

Thanks to last year's release of the first iPhone to cost $1,000, the average price has increased by at least 11 percent in each of the past four quarters.

Revenue was up 20% on a year ago at $62bn while profits rose 41%. The company's net income for the quarter was $14.13 billion compared to $10.71 billion a year ago. Apple raised prices on most of the devices, a relatively recent strategy to offset slowing unit sales growth.

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Global sales had a huge role to play as Apple recorded 61% of its revenue from it. iPhone sales were not as impressive as it sounds as Apple sold 46.89 million iPhones as compared to 46.7 million iPhones sold in 2017.

Apple's performance for the July-through-September period and its revenue outlook for holiday season evidently weren't enough to ease investors' concerns. Analysts and investors use the figures to calculate the average selling price of Apple's devices and gauge the health of the company.

Apple's cautious forecast could accelerate investor fears that have in turn erased stock market gains for much of the year.

This new murky sales picture for Apple's largest revenue segment lead CFO Luca Maestri to announce a new change to the company's reporting policy.

Apple holds around 12 percent of the global smartphone market, with most of the rest sold by makers of Android-powered software. As for other products, iPad sales were down by about 6% year over year while Mac sales were down by 2%. Apple said they also would quit giving the number of iPads and Mac computers. That beats analysts' expectations of $2.78 earnings per share on revenue of $61.4 billion. The division includes the App Store, subscriptions, Apple Music, Apple Care and Apple Pay.

Apple no longer wants people, journalists and analysts to focus on the declining sales of iPhone.

Apple shares fell almost 7 percent Friday as Wall Street evaluated the company's announcement that beginning with its December business quarter, it would no longer give updates on the number of iPhones, iPads and Macs it sells each quarter.

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