Apple posts record revenue & other tidbits from earnings call

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


Let’s start with this: Apple’s market capitalization has now grown to over $1.4 trillion. Or, to put it another way, Apple’s valuation is now more than Germany’s 30 largest listed companies that make up the DAX index on the Frankfurt Stock Exchange.


I think the appropriate word here is ‘Egads’.


Last year they failed to report a quarterly revenue record for the first time since the iPhone’s 2007 release. This last quarter earnings call was much cheerier – having posted record revenue and a return to profit growth. Accordingly, Apple’s shares jumped 2 percent today in after-market trading.


The tech giant reported revenue rose 9% in the December quarter to $91.82 billion, driven by sales of devices and services connected to the iPhone such as wearables, apps and subscription services. For instance, the wearables earnings category, which includes AirPods, Apple Watch, Beats headphones, HomePod, etc. hit $10 billion, up from $7.3 billion in the year-ago quarter. The addition of a credit card and video-subscription service helped increase sales of services 17%.


Sales of iPhones, which account for more than half of its revenue, rose 8% to $55.96 billion, and the number of active Apple devices world-wide rose to 1.5 billion from 1.4 billion a year ago.


From the man himself:


“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. 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.”


Sweet day for Apple & investors!




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