Apple has just reported its fiscal third quarter earnings, and revealed that the company’s services revenue has a hit a new high. The division includes revenue from subscriptions services like Apple Music, iTunes, Apple Pay and iCloud, raked in sales of $11.46 billion during the period. However, iPhones are still a key component to the company, bringing in $25.99 billion in revenue, more than any other division. Everything combined, Apple reported quarterly revenue of $53.8 billion, up 1% from the same period last year. They also announced that the Apple Card is coming in August. Read more for a video and additional information.
Apple CEO Tim Cook announced today during the company’s fiscal third-quarter earnings call that the Apple Card will launch next month. Similar to other credit cards, this one will provide users with an interface that shows them where each purchase was made, while also breaking down purchases into different categories, such as entertainment, food and shopping, so they know exactly where their money is going each month. It comes in both a digital and a physical, titanium card, but instead of a 16-digit card number, CVV code, or expiration numbers as a personal identifiers, it generates those numbers randomly during each transaction.