Apple has announced its Q1 2020 earnings for the first fiscal quarter of the New Year. The majority of the earnings and money Apple made during this time will take place during the 2019 holiday season.
Courtesy of Apple Newsroom:
Apple today announced financial results for its fiscal 2020 first quarter ended December 28, 2019. The Company posted quarterly revenue of $91.8 billion, an increase of 9 percent from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $4.99, up 19 percent, also an all-time record. International sales accounted for 61 percent of the quarter’s revenue.
“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.”
“Our very strong business performance drove an all-time net income record of $22.2 billion and generated operating cash flow of $30.5 billion,” said Luca Maestri, Apple’s CFO. “We also returned nearly $25 billion to shareholders during the quarter, including $20 billion in share repurchases and $3.5 billion in dividends and equivalents, as we maintain our target of reaching a net cash neutral position over time.”
- Revenue between $63.0 billion and $67.0 billion
- Gross margin between 38.0 percent and 39.0 percent
- Operating expenses between $9.6 billion and $9.7 billion
- Other income/(expense) of $250 million
- Tax rate of approximately 16.5 percent
Apple’s board of directors has declared a cash dividend of $0.77 per share of the Company’s common stock. The dividend is payable on February 13, 2020 to shareholders of record as of the close of business on February 10, 2020.
You can listen to the earnings call that will tell you all of the news within the company’s Q1 2020 earnings here. Apple CEO Tim Cook is set to be one of the speakers on the call, as well as Luca Maestri, its senior vice president and chief financial officer.