Apple has just published its financial results for Q1 2020. The company posted revenue of $91.8 billion. Apple CEO Tim Cook said:
“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.”
Estimates and Expectations for Q1 2020 and the Year-Ago Quarter (Q1 2019)
Apple’s revenue guidance for Q1 2020 fell between $85.5 billion and $89.5 billion, with gross margin estimated to be between 37.5% and 38.5%.
Going into today’s earnings call, CNBC said:
Analysts are expecting earnings per share of $4.55, up from $4.18 per share from a year ago, according to Refinitiv. Revenue is expected to be $88.5 billion, up year-over-year from $84.3 billion.
In the year-ago quarter (Q4 2018), Apple earned $84.3 billion in revenue.
After the break, we’ve compiled a graphical visualization of Apple’s Q1 2020 financial results.
Apple has just published its financial results for Q3 2018. The company posted revenue of $53.3 billion. Apple sold 11.6 million iPads, 41.3 million iPhones, and 3.7 million Macs during the quarter.
“We’re thrilled to report Apple’s best June quarter ever, and our fourth consecutive quarter of double-digit revenue growth,” said Tim Cook, Apple’s CEO. “Our Q3 results were driven by continued strong sales of iPhone, Services and Wearables, and we are very excited about the products and services in our pipeline.”
Apple has just published its financial results for Q3 2017. The company posted revenue of $45.4 billion. Apple sold 11.4 million iPads, 41 million iPhones, and 4.3 million Macs during the quarter.
“With revenue up 7 percent year-over-year, we’re happy to report our third consecutive quarter of accelerating growth and an all-time quarterly record for Services revenue,” said Tim Cook, Apple’s CEO. “We hosted an incredibly successful Worldwide Developers Conference in June, and we’re very excited about the advances in iOS, macOS, watchOS and tvOS coming this fall.”
Apple has just published their financial results for Q4 2016, which covered the three months from July through to September 2016. The company posted revenue of $46.9 billion with a quarterly net profit of $9 billion. Apple sold 9.2 million iPads, 45.5 million iPhones, and 4.8 million Macs during the quarter.
“Our strong September quarter results cap a very successful fiscal 2016 for Apple,” said Tim Cook, Apple’s CEO. “We’re thrilled with the customer response to iPhone 7, iPhone 7 Plus and Apple Watch Series 2, as well as the incredible momentum of our Services business, where revenue grew 24 percent to set another all-time record.”
Apple has just published their financial results for Q2 2016, which covered the three months from January through March 2016. The company posted revenue of $50.6 billion and earnt a quarterly net profit of $10.5 billion. Through the quarter it sold 10.3 million iPads, 51.2 million iPhones, and 4 million Macs.
“Our team executed extremely well in the face of strong macroeconomic headwinds,” said Tim Cook, Apple’s CEO. “We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices.”
The Company also announced that its Board of Directors has authorized an increase of $50 billion to the Company’s program to return capital to shareholders. Under the expanded program, Apple plans to spend a cumulative total of $250 billion of cash by the end of March 2018.
As noted by MacRumors, Apple’s Investor Relations website was yesterday updated to note that Apple’s earnings call for the second quarter of fiscal year 2016 (January, February and March 2016) will be held on Monday, April 25, 2016.
Apple’s guidance for the second fiscal quarter of 2016 is revenue between $50 and $53 billion, gross margin between 39 and 39.5 percent, and a tax rate of 25.5 percent. But as is illustrated above, Apple’s guidance in the past has often underestimated the actual results, sometimes significantly so.
As we have for previous earnings calls, MacStories will cover the conference call on our site’s homepage on April 25 starting at 2 PM PT, posting charts of the results, collecting key quotes from Apple executives and highlighting interesting Tweets from others.
Apple has just published their financial results for Q1 2016 for the quarter that ended in December 2015. The company posted revenue of $75.9 billion. The company sold 16.1 million iPads, 74.8 million iPhones, and 5.3 million Macs, earning a quarterly net profit of $18.4 billion.
“Our team delivered Apple’s biggest quarter ever, thanks to the world’s most innovative products and all-time record sales of iPhone, Apple Watch and Apple TV,” said Tim Cook, Apple’s CEO. “The growth of our Services business accelerated during the quarter to produce record results, and our installed base recently crossed a major milestone of one billion active devices.”
“Our record sales and strong margins drove all-time records for net income and EPS in spite of a very difficult macroeconomic environment,” said Luca Maestri, Apple’s CFO. “We generated operating cash flow of $27.5 billion during the quarter, and returned over $9 billion to investors through share repurchases and dividends. We have now completed $153 billion of our $200 billion capital return program.”
For the first time, Apple has included supplemental material alongside its financial results, noting that “in constant currency, Q1’16 revenue would have been $5 billion higher”. “$100 of Apple’s non-U.S. dollar revenue in Q4’14 translates into only $85 U.S. dollars today”, the company noted in a document available here.
Apple’s Investor Relations website was yesterday updated to note that Apple’s earnings call for the first quarter of fiscal year 2016 (October, November and December 2015) will be held on Tuesday, January 26, 2016. As is usual, Apple will provide a live webcast of the conference call on the day.
Apple’s guidance for the first fiscal quarter of 2016 is revenue between $75.5 billion and $77.5 billion, gross margin between 39 percent and 40 percent and a tax rate of 26.2 percent. But as is illustrated above, Apple’s guidance in the past has often underestimated the actual numbers by quite a significant degree.
As we have for previous earnings calls, MacStories will cover the conference call on our site’s homepage on January 26 starting at 2 PM PT, posting charts of the results, collecting key quotes from Apple executives and highlighting interesting Tweets from others.
Serenity Caldwell and Jason Snell, writing for iMore, have already put together a transcript of Apple’s Q4 2015 earnings call. This is where you want to go to get all the details shared by Tim Cook and CFO Luca Maestri earlier today, such as this tidbit on the iPhone Upgrade Program:
Rod: On the Upgrade Program, can you envision a time ever, maybe in the U.S. or elsewhere, where you would not have to come into an Apple Store to take advantage of the upgrade? You might be able to do that somewhere else?
Tim: That’s a really good question. We actually solved that problem back in 2007, but then quickly had to change it in order to scale in a major way. And so that is something that we is always in our mind, that one day from a customer experience point of view, we would like to make things as easy as possible for the customer. And to some degree, you can already do that with buying online. But there are many different plans and so forth that people buy that they have to come in for. Yes, over time we’d love to have that automated, working with our partners with service providers.