Apple reported first-quarter results
Apple announced financial results for its fiscal 2019 first quarter ended December 29, 2018. The company posted quarterly revenue of $84.3 billion, a decline of 5% from the year-ago quarter, and quarterly earnings per diluted share of $4.18, up 7.5%. International sales accounted for 62% of the quarter’s revenue.
Revenue from iPhone declined 15% from the prior year, while total revenue from all other products and services grew 19%. Services revenue reached an all-time high of $10.9 billion, up 19% over the prior year. Revenue from Mac and Wearables, Home and Accessories also reached all-time highs, growing 9% and 33%, respectively, and revenue from iPad grew 17%.
Apple is providing the following guidance for its fiscal 2019 second quarter:
- revenue between $55 billion and $59 billion;
- gross margin between 37% and 38%;
- operating expenses between $8.5 billion and $8.6 billion;
- other income/(expense) of $300 million;
- tax rate of approximately 17%.
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