Apple's Services continue to grow, reaching 8% of total revenue in the fiscal 2016 first quarter that ended Dec. 26, 2015. The Services category — which includes revenue from iTunes, Apple Music, iCloud, Apple Pay, app stores, licensing and other items — brought in over $6 billion for fiscal year 2015.
That’s up 15% year-over-year. Purchases from content from Apple’s installed base was up 24% year-over-year. Apple Chief Financial Officer Luca Maestri told analysts and the press the major drivers of growth were apps, movies, and TV shows.
Revenue from the “other” products category — which includes the Apple TV, Apple Watch, Beats products, and iPods, set a record with $4.351 billion. The previous high was $3.048 billion the prior quarter.
Some other notes of interest from Apple’s latest fiscal report:
- The company has nearly $216 billion in cash and short- and long-term securities.
- CEO Tim Cook doesn’t think virtual reality is a niche or fad, but is “really cool and has some interesting applications.”
- Cook said Apple is continuing to invest “without pause” in research and development and has some “great things in the pipeline.”