Apple released its financial results for the first quarter of its 2020 fiscal year yesterday evening. This quarter is the fourth quarter of 2019 in the regular calendar and includes sales of the iPhone 11.
Apple’s financial results for Q1 2020
Apple’s Q1 20120 revenue is $ 91.8 billion, against $ 84.3 billion at the same period a year ago; we therefore see an increase of 8.9%. Apple caused a sum of $ 22.2 billion net profit versus $ 19.97 billion one year ago. Earnings per share is $ 4.99, against $ 4.18 previously; an increase of 19.38%.
Apple no longer reports iPhone, iPad and Mac sales figures by unit, here are the details shared by the firm :
- iPhone: $ 55.96 billion in revenue (+ 7.66% compared to the same period a year ago)
- iPad: $ 5.98 billion in revenue (-11.1% compared to the same period last year)
- Mac: $ 7.16 billion (-3.5%)
- Apple Watch and other accessories: $ 6.52 billion (+ 38.2%)
- Services (Apple Music, App Store, iCloud…): $ 12.72 billion (+ 10.3%)
And Tim Cook, the boss of Apple, shared his words on the results obtained during the quarter:
“We are delighted to announce the highest quarterly sales ever made by Apple, fueled by strong demand for our iPhone 11 and iPhone 11 Pro, and by historical records for services and wearables [Apple Watch, AirPods]. During the quarter, our installed base of devices increased in each of our geographic segments and has now reached more than 1.5 billion pieces of equipment. We see it as a powerful testimony to the satisfaction, commitment and loyalty of our customers – and a great engine of our growth in all areas. “
For this quarter, Apple anticipates turnover between 63 and 67 billion dollars with a gross margin between 38% and 39%.