Apple reported quarterly revenue for its first quarter to December 29, 2018 fell 5% year-on-year to $84.3 billion.
Futuresource Consulting analyses the implications of Apple and Samsung joining forces to roll out the iTunes app on the electronics giant’s TVs.
Despite posting record results, Apple shares fell 7% in after-hours trading to take the tech giant’s valuation below $1trillion, albeit briefly.
Apple is working to launch its new TV service in the US in the first half of next year and will make the app available in around 100 countries in the following months, according to online news site The Information.
Despite traditionally being its slowest quarter, Apple reported a record $53.3 billion in revenue for its fiscal third quarter, a rise of around 17% from a year earlier.