Apple's revenue surpasses $260B in 2018, up 16% from last year: 4 things to know

Apple has released its earnings results for the fourth quarter of 2018.

Here are four things to know about the Cupertino, Calif.-based iPhone maker's financial performance:

1. Apple posted $62.9 billion in revenue for the fourth quarter, up 20 percent from $52.6 billion during the same period last year, and $265.6 billion in revenue for full-year 2018, up 16 percent from $229.2 billion in 2017.

2. iPhones made up most of Apple's fourth-quarter revenue at $37.2 billion, up 29 percent from the fourth quarter of 2017. Other major revenue drivers included services, for which the company reported a record high at nearly $10 billion, and Macs at $7.4 billion.

3. Apple posted $14.1 billion in net earnings for the fourth quarter, up 32 percent from the same period in 2017, and $59.5 billion in net earnings for 2018, up 23 percent from last year.

"We're thrilled to report another record-breaking quarter that caps a tremendous fiscal 2018 — the year in which we shipped our 2 billionth iOS device, celebrated the 10th anniversary of the App Store and achieved the strongest revenue and earnings in Apple's history," said Apple CEO Tim Cook.

4. Apple expects its revenue for the first quarter of 2019 to be in the range of $89 billion to $93 billion.

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