Apple announced its fourth-quarter earnings after the bell today, and it was a rather strange quarter because, unlike some previous years (including last year), this quarter's numbers did not include the release of the iPhone. This year, various iPhone 12 models will go on sale in October and November instead of September.
CEO Tim Cook proudly announced double-digit year-over-year growth in every product category except the iPhone, but the iPhone is important: Apple's overall revenue was up just 1 percent year over year, while iPhone revenue was down nearly 21 percent.
Although the iPhone did not help boost profits, Apple released other products during this period, including updated designs. iPad Air and two Apple Watches: Apple Watch series 6 and Apple Watch SE. iPad revenue was up 46 percent year-over-year at $6.8 billion, and Mac revenue was also up $9 billion, up 28 percent from the same quarter last year.
Apple's growing focus on services is a well-done story at this point, but it continued into Cook's earnings call remarks to investors. Services grew 16.3 percent year over year to $14.55 billion, more than revenue from any other product category except iPhone ($26.44 billion this quarter).
Cook highlighted the strong quarter for Apple TV+. It seemed to outsiders that the streaming service had a slow launch last year, especially in contrast to hugely successful Disney+who began his service almost at the same time. But Cook spoke about Apple TV+ in a positive tone and called the series Ted Lasso as a notable success. The sports comedy starring Jason Sudeikis has earned praise for its positive, uplifting atmosphere and may be Apple TV+'s biggest hit, although Apple hasn't released as many viewership figures for Apple TV+ as many would like.
