San Francisco April 27 (IANS) Focusing on software and services in addition to its flagship hardware Apple services revenue in the second quarter is expected to reach $7 billion.
While the iPhone remains Apple s biggest top-line contributor by far services such as Apple Care and Apple Music surpassed the Mac last year as revenues topped $24 billion technology website marketwatch.com reported.
Revenue from services which represents Apple s most profitable business segment is expected to climb 18 per cent to $7.1 billion this quarter according to financial data and software company FactSet s survey of around 40 analysts.
Apple is expected to report GAAP earnings per share of $2.02 up from $1.90 in the year-earlier period and will report revenue of $53 billion up from $50.5 billion in the same period last year.
The company is expected to have shipped 52 million phones during the quarter up from 51 million in the year-earlier period.
Benefiting from its expensive plus models and rising demands of its products Apple Inc will be worth at least $824 billion this year analysts predicted earlier this month.
Apple s shares already soared more than 16 per cent to fresh highs during the second quarter but analysts are optimistic the stock has much more room to grow.
According to a report in USA Today Apple co-founder Steve Wozniak believed that Apple Google and Facebook will be bigger in 2075 and dominate the world.
--IANS
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Apple services revenue expected to reach $7 bn this quarter
