Apple CEO Tim Cook on Wednesday revealed the company's earnings from its Services segment, which includes Apple Music and iCloud, were up 18% in the fourth quarter and have set new records around the globe.

Speaking on the company's legally required financial earnings call, Cook said that Apple's range of Services contributed $12.5 billion in revenue during the fourth fiscal quarter.

"Services [revenues] were up 18%," he said, "which beats our previous record-setting June quarter by more than a billion dollars."

Apple's Services revenue charted. (Source: Malcolm Owen, AppleInsider)

Cook was also at pains to say that this growth is global.

"This is not a local phenomenon," he added, "and it was not a narrow success. We achieved multiple all-time highs. We are on the way to our goal of doubling our financial year 2016 Services revenue by 2020."