Apple Releases Q1 2019 Results

Apple released its first quarter results for 2019. The first quarter ended on December 29, 2018, which is right after the end of the holiday season.

Apple reported a revenue of $84.3 billion, which is a slight decline of 5 percent, compared to a year ago. However, it was revealed that revenue for the iPhone has decline 15 percent from the previous year.

In other news, all other products and services for Apple rose 19 percent. Revenue for services for the company reached an all-time high of $10.9 billion. 

Revenue totals for the Mac, wearables, Home products, and other accessories reach all-time highs of 9 and 33 percent. Revenue for the iPad grew by 17 percent. 

“While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter’s results demonstrate that the underlying strength of our business runs deep and wide,” said Tim Cook, Apple’s CEO.

Apple did provide us with some goals and guidance that they have in mind for the second quarter of year which can be seen below: 

  • Revenue between $55 billion and $59 billion
     
  • Gross margin between 37 percent and 38 percent 
  • Operating expenses between $8.5 billion and $8.6 billion 
  • Other income/(expenses) of $300 million 
  • Tax rate of approximately 17 percent

Apple will have a live stream of their Q1 2019 financial results at 2 PM PST on their website. The live stream will be available afterwards for two weeks.