During today’s earnings call, after the company officially announced its numbers for the latest quarter, Tim Cook made some noteworthy comments, especially regarding its wearables business.
First and foremost, Apple announced another milestone for the company: Its “Other” category, which includes devices like the AirPods, the Apple Watch, the Beats brand, iPod Touch, Apple TV, and the new HomePod, earned nearly $4 billion in revenue for the quarter. It earned a total of $3.96 billion. Compare that year-over-year and it’s a 38% increase. The wearables market for Apple grew 50 percent in the same time period.
The impressiveness of it comes down to the size of Apple’s wearables business, which is not just the Apple Watch, but specifically includes Beats and AirPods. According to Cook, the wearables business is now the size of a Fortune 300 company, which, back in February, Cook said it was on track for.
“This was another outstanding quarter for our wearables business, which includes Apple Watch, Beats, and AirPods with combined revenue of almost 50% year over year. Looking at its revenue over the last four quarters, our wearables business is now the size of a Fortune 300 company.”
So, that’s going well for Apple, to say the least. Considering how popular the AirPods have become as the go-to truly wireless headphones, and the Apple Watch, too, there’s no real surprise here. Of course, the wearables business for Apple is just going to keep earning the company money, which is another boost on the back of the popular iPhone lineup.