Apple reports record breaking first quarter with $91.8B in revenue; up 9% thanks to iPhone11 sales

Apple today announced financial results for its fiscal 2020 first quarter ended December 28, 2019. The Company posted quarterly revenue of $91.8 billion, an increase of 9 percent from the year-ago quarter and an all-time record, and quarterly earnings per diluted share of $4.99, up 19 percent, also an all-time record. International sales accounted for 61 percent of the quarter’s revenue.

Apple is providing the following guidance for its fiscal 2020 second quarter:
  • revenue between $63.0 billion and $67.0 billion
  • gross margin between 38.0 percent and 39.0 percent
  • operating expenses between $9.6 billion and $9.7 billion
  • other income/(expense) of $250 million
  • tax rate of approximately 16.5 percent

Apple’s board of directors has declared a cash dividend of $0.77 per share of the Company’s common stock. The dividend is payable on February 13, 2020 to shareholders of record as of the close of business on February 10, 2020.

Apple will provide live streaming of its Q1 2020 financial results conference call beginning at 2:00 p.m. PT on January 28, 2020 at www.apple.com/investor/earnings-call/. This webcast will also be available for replay for approximately two weeks thereafter.

Source
https://www.apple.com/newsroom/2020/01/apple-reports-record-first-quarter-results/

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