iPhone and AirPods help Apple hit a new revenue record
January 29, 2020 - Apple’s first quarter results for fiscal year 2020 showed higher than expected revenue of $91.8 billion – its highest ever quarter earnings.
Apple has announced financial results for its first fiscal quarter of 2020 (which corresponds to the fourth calendar quarter of 2019) – taking in the all-important holiday season.
For the quarter, Apple posted revenue of $91.8 billion and net quarterly profit of $22.2 billion, or $4.99 per diluted share, compared to revenue of $84.3 billion and net quarterly profit of $20.0 billion, or $4.18 per diluted share, for the same period a year earlier.
The impressive numbers were fuelled by strong demand for the iPhone 11 and iPhone 11 Pro models, and all-time record earnings for Services and Wearables – the latter category home to AirPods and Apple Watch.
The quarter was the best in Apple's history in terms of revenue and profit, topping the first fiscal quarter of 2018.
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