Apple's revenue achieved a record for the June quarter, driven primarily by growth in its wearables business

The results of Apple’s financial operations for the company’s third fiscal quarter of 2019 were announced earlier today. The revenue for the past three months came in at $53.8 billion, which is the highest amount ever recorded for the month of June.

Following a disappointing second-quarter performance in which revenue fell 5% year on year, the Cupertino company has resumed its growth trajectory.In the third quarter, Apple’s net sales demonstrated an increase of one percent on an annual basis. Services and wearables were the primary drivers of growth, increasing by an astounding 48 percent and thirteen percent, respectively.

The second largest component was the service industry, which reached a record quarterly high of $11.5 billion. Their percentage of overall income was only 21 percent, which was still a significant distance behind smartphones, which accounted for 48 percent of sales. However, the percentage of people using smartphones is decreasing. Its revenue fell by 12 percent year on year in the third quarter, after falling by 17 percent the previous quarter.

On the other hand, growth in wearables is going from strength to strength, which can be partially attributed to the success of Apple Watch Series 4 sales. The surge in the last three months follows a 30 percent increase in the second quarter.This category also includes the revenue generated by AirPods, HomePods, and accessories.

Earnings per share for the period were $2.18, representing a 7% decrease year on year.59% of the total revenue for the quarter came from transactions outside of the country.

Tim Cook, CEO of Apple, stated that this past June quarter was the company’s most successful ever for the month of June. This success was driven by all-time record revenue from services, accelerating growth from wearables, strong performance from the iPad and Mac, and significant improvement in iPhone trends.

These results are encouraging across every one of our geographic subgroups, and we are optimistic about what lies ahead. The rest of 2019 will be full of many exciting events, such as major launches across all of our platforms, the start of new services, and the release of a lot of new products.

Apple projects that its revenue will fall anywhere between $61 and $64 billion during the next fourth quarter. In the fourth quarter of 2017, the company’s revenue came to a total of $62.9 billion.

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