Apple continues to funnel in the money

Apple continues to funnel in the money

 

What just happened? Apple at the market’s close on Thursday announced financial results for its fiscal 2020 first quarter that ended December 28, 2019, and included the lucrative holiday quarter. Unsurprisingly, it was another record-setting report for Apple.

For the period, Apple generated revenue of $91.8 billion, up a full nine percent compared to the year ago quarter and enough to set a new all-time record. Quarterly earnings per diluted share, meanwhile, checked in at $4.99, up 19 percent and good for yet another all-time record.

Apple said international sales accounted for 61 percent of its overall quarterly revenue.

Apple also declared a cash dividend of $0.77 per share of common stock that’ll be payable on February 13, 2020 to shareholders on record as of February 10, 2020.

CEO Tim Cook said they are thrilled to report Apple’s highest quarterly revenue ever, fueled primarily by strong demand for its iPhone 11 and iPhone 11 Pro models – handsets that were first released in mid-September 2019.

Cook also praised the Services and Wearables divisions for churning out all-time record performances. The active installed base of wearable devices has now reached over 1.5 billion, Cook added.

Sales of iPhones accounted for $55.9 billion, up from $51.9 billion in the year-ago period. The Services segment generated $12.7 billion, up from $10.8 billion last year, while the Wearable / Home / Accessories category raked in $10 billion, from $7.3 billion in the year-ago quarter.

Looking ahead to its fiscal 2020 second quarter, Apple expects to generate revenue between $63.0 billion and $67.0 billion with a gross margin of between 38.0 percent and 39.0 percent.

 

Source: Techspot.com

 

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