Apple shared new all-time revenue records

Apple reported first-quarter results

Apple shared new all-time revenue records. Source: shutterstock.com

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%.

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. Our active installed base of devices reached an all-time high of 1.4 billion in the first quarter, growing in each of our geographic segments. That’s a great testament to the satisfaction and loyalty of our customers, and it’s driving our Services business to new records thanks to our large and fast-growing ecosystem
Tim Cook, Apple’s CEO

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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