Apple has announced financial results for its 1Q 2020 that is ended on December 28, 2019. The Company posted quarterly revenue of $91.8 billion, an increase of 9 percent from the year-ago quarter, along with a net quarterly profit of $22.2 billion, and quarterly earnings per diluted share of $4.99. In contrast, Apple earned a revenue of $84.3 billion and net quarterly profit of $20.0 billion, or $4.18 per diluted share, in the year-ago quarter.
CEO Tim Cook in a statement said that there is a strong demand for the iPhone 11 and iPhone 11 Pro models, and have set all-time records for Services and Wearables. Additionally, Apple said that active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion.
CEO Tim Cook in a statement said that there is a strong demand for the iPhone 11 and iPhone 11 Pro models, and have set all-time records for Services and Wearables. Additionally, Apple said that active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion.
It is worth stating that this quarter, Apple's Wearables category sets an all-time revenue record surpassing Mac for the first time. Not only that, its fast growing Apple's Services revenue hits a new all-time High of $12.7 Billion in Q1 2020, with Tim Cook claiming Apple TV+ is off to a "rousing start" and Apple Arcade is off to a strong start as well.
“We are thrilled to report Apple’s highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables,” said Tim Cook, Apple’s CEO. “During the holiday quarter our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion. We see this as a powerful testament to the satisfaction, engagement and loyalty of our customers — and a great driver of our growth across the board.”Apple expect revenues of between $63.0 billion and $67.0 billion in the next quarter, with the gross margin between 38.0 percent and 39.0 percent, operating expenses between $9.6 billion and $9.7 billion, other income/(expense) of $250 million, and tax rate of approximately 16.5 percent in the next quarter.
Finally, Apple’s board of directors has declared a cash dividend of $0.77 per share of the company’s common stock. The dividend is payable on February 13, 2020 to shareholders of record as of the close of business on February 10, 2020.
Image Via Bloomberg
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