iPhone 11 series, Services take Apple to highest-ever quarterly revenue of $91.8 billion

Apple

“Apple CEO Tim Cook said this was the company’s biggest quarter ever and set a new record in both revenue and earnings”

Apple has announced its Q1 revenue for fiscal 2020, which ended in December 2019. The company posted revenue of $91.8 billion, a solid increase of 9 percent YoY, and a net profit of $22.2 billion, up 11.1 percent YoY. The company’s international sales accounted for 61 percent of the quarter’s revenue. Apple’s CEO Tim Cook said it is the company’s biggest quarter ever and set a new record in both revenue and earnings. The quarterly earnings per diluted share of $4.99, up 19 percent, again an all-time record.

Apple iPhone 11 was the top-selling model every week during the December quarter.

iPhones generated a revenue of $56 billion in the December quarter, that an 8 percent YoY increase thanks to the demand for the latest iPhone 11, iPhone 11 Pro, and iPhone 11 Pro Max. The former was the top-selling model every week during the December quarter. Apple registered double-digit growth in developed markets like the US, the UK, France, Singapore, and others.

Mac and iPad products generated $7.2 billion and $6 billion in revenue, respectively. iPads saw growth in key emerging markets like Mexico, India, Turkey, Poland, Thailand, Malaysia, the Philippines, and Vietnam. In terms of Services, Apple’s Q1 revenue reached $12.7 billion, a growth of 17 percent over last year. The company says that 2020 started off strong as customers spent a record $386 million on New Year’s Day alone, a 20 percent increase over last year. Lastly, the Wearables, home, and accessories segment generated a revenue of $10 billion, up 37 percent YoY with double-digit performance across markets.

Furthermore, Apple is expecting a revenue between $63 billion and $67 billion, a gross margin between 38 and 39 percent for Q2 FY20 and operating expenses between $9.6 billion and $9.7 billion.

Apple iPhone 11 Pro Max 256GB Specifications
Performance
Hexa Core (2.65 GHz, Dual Core + 1.8 GHz, Quad core)
Apple A13 Bionic
4 GB RAM
Display
6.5 inches (16.51 cm)
1242x2688 px, 456 PPI
OLED
Camera
12 MP + 12 MP + 12 MP Triple Primary Cameras
Quad LED True Tone Flash
12 MP Front Camera
Battery
3969 mAh
Fast Charging
Non-Removable
Apple iPhone 11 Pro Max 256GB Price View All
Rs. 121,899.00
Go To Store
Rs. 123,900.00
Go To Store
Rs. 123,900.00
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Sai Krishna is a close follower of tech and everything that has the word 'smart' involved. This makes him passionate to write about everything revolving around the world of technology. He can always be seen surfing the web and while he’s not working, you can find him re-watching Seinfeld and reading comics.
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