Apple reports modest revenue growth, led by 54% surge in wearables

Apple reported total revenues of $64 billion for the fiscal fourth quarter ended Sept. 28, a year-over-year increase of 2 percent, in an earnings report released Oct. 30.

The modest increase was led by sizable growth in the company's services, wearables and iPad sectors. Revenues in the services segment increased 17 percent year-over-year to reach an all-time high of $12.5 billion, while wearables experienced more than 50 percent annual growth to reach revenues of $6.5 billion.

Following the release of the report, Apple CEO Tim Cook spoke in an earnings call about how a significant portion of the wearables division's success is due to the Apple Watch's health and fitness tracking features being an "illustration of Apple's commitment to your health," according to iMore's transcript of the call.

Mr. Cook went on to discuss in further detail Apple's other forays into healthcare, before repeating his oft-stated belief that "there will be a day in the future that we look back and Apple's greatest contribution will be to people's health."

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