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Apple Reports 1Q 2020 Results: $22.2B Profit on $91.8B Revenue, Best Quarter Ever

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Apple today announced financial results for its first fiscal quarter of 2020, which corresponds to the fourth calendar quarter of 2019.

For the quarter, Apple posted revenue of $91.8 billion and net quarterly profit of $22.2 billion, or $4.99 per diluted share, compared to revenue of $84.3 billion and net quarterly profit of $20.0 billion, or $4.18 per diluted share, in the year-ago quarter. The quarter was the best in Apple's history in terms of revenue and profit, topping the first fiscal quarter of 2018.

Gross margin for the quarter was 38.4 percent, compared to 38.0 percent in the year-ago quarter, with international sales accounting for 61 percent of revenue. Apple also declared an upcoming dividend payment of $0.77 per share, payable February 13 to shareholders of record as of February 10.

1q20_earnings_line_labels.jpg
"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."
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Apple's guidance for the second quarter of fiscal 2020 includes expected revenue of $63-67 billion and gross margin between 38 and 39 percent.

1q20_earnings_pie_labels.jpg

Apple will provide live streaming of its fiscal Q1 2020 financial results conference call at 2:00 PM Pacific, and MacRumors will update this story with coverage of the conference call highlights.

Apple's earnings call recap follows...


Click here to read rest of article...

Article Link: Apple Reports 1Q 2020 Results: $22.2B Profit on $91.8B Revenue, Best Quarter Ever
 
Article Link
https://www.macrumors.com/2020/01/28/apple-1q-2020-results/
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And analysts on CNBC are complaining because iPhone numbers were too good. So Apple is back to being just a hardware company and their PE is too high now. 😂
 
iPhone sales unexpectedly up more than anticipated. However, services a lil soft. Still, I am "THRILLED"! Just bought more AAPL on the dip yesterday and already up on that. Can't wait to see what it does tomorrow since after hours looks so good.
 
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What's surprising and somewhat disappointing is that Mac revenue has stayed almost flat since 2011. I don't know how that equates to unit sales but, as a big advocate of the Mac as a platform, I would have hoped to see steady growth. After all, more Macs in the wild leads to more software, more development and a bigger focus on product innovation.

Still, I suppose it's not too surprising as our reliance on traditional computers diminishes in favour of smartphones and tablets.
 
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Reactions: Wide opeN, UnbreakableAlex and smirking
realtuner said:
Curious how the naysayers will spin this absolutely monstrous quarter....


For comparison, iPhone revenue by itself is a whopping $5 billion more than Samsung Electronics combined.
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Analysts are already spinning it as bad because it was iPhone that drove the record quarter.
 
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