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Apple Q1 2019 Results - $84.3 Billion Revenue, the First Holiday Quarter Decline Since the iPhone’s Introduction

Apple has just published its financial results for Q1 2019, which is the company’s holiday quarter. The company posted revenue of $84.3 billion, which is the first holiday quarter decline in sales since the iPhone’s introduction. Apple CEO Tim Cook said:

“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. “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.”

Estimates and Expectations for Q1 2019 and the Year-Ago Quarter (Q1 2018)

Apple’s original revenue guidance for Q4 2018 fell between $89 billion and $93 billion but was revised downward to $84 billion in a letter from CEO Tim Cook to shareholders that was released on January 2, 2019. Gross revenue which was originally estimated to be between 38% and 38.5%, was revised to 38% in Cook’s letter.

Going into today’s earnings call, Bloomberg reported that:

For Apple, the slowdown is expected to continue with fiscal second-quarter revenue of $59 billion, according to analyst estimate data compiled by Bloomberg. That would be a year-over-year decline of about 4 percent.

In the year-ago quarter (Q1 2018), Apple earned $88.3 billion in revenue. During that quarter Apple sold 77.3 million iPhones, 13.2 million iPads, and 5.1 million Macs. As announced on Apple’s last earnings call, the company did not report Q1 2019 unit sales for any of its products.

Graphical Visualization

Below, we’ve compiled a graphical visualization of Apple’s Q1 2019 financial results.

Apple Q1 2019 on Twitter

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