https://wccftech.com/apple-64-billion-revenue-iphone-drop/

Cupertino tech giant Apple reported its fourth-quarter 2019 earnings today. The company has earned $64 billion this quarter, in a modest $1 billion increase over the year. Earnings-per-share stand at $3.03 and operating cash flows to the company are $19.9 billion. Analysts had expected the company to earn $62.9 billion in revenue and post $2.84 in earnings per share. Net Income for the quarter is $13 billion, down from $14 billion Apple posted in fourth quarter 2018, and up from the $10 billion it earned the previous quarter. However, the sequential increase also includes revenue from the 2019 iPhone lineup, so the real concern once again is a drop in net income.

The first thing that's clear when we look at Apple's balance sheet for the year is the fact that the company's push in services is working. Apple earned $52 billion from selling its products last year, and this revenue has dropped by $1 billion to $51.5 billion in 4Q19. Services, on the other hand, have raked in $12.5 billion this quarter, up from the $10.5 billion they brought in the year before.