Latest

latest

Apple Reported Its Fourth-Quarter 2019 $64 Billion Earnings Today

Apple Fourth-Quarter 2019 $64 Billion Revenue

Wednesday, October 30, 2019

/ by Micheal Pearls

  • Apple Reported Its Fourth-Quarter 2019 $64 Billion Earnings Today
  • Apple Fourth-Quarter 2019 $64 Billion Revenue Announced



Apple reported its fourth-quarter 2019 earnings today. The company has earned $64 billion this quarter, in a modest $1 billion increase over the year. 
Earnings-per-share stand at $3.03 and operating cash flows to the company are $19.9 billion. Analysts had expected the company to earn $62.9 billion in revenue and post $2.84 in earnings per share. Net Income for the quarter is $13 billion, down from $14 billion Apple posted in fourth quarter 2018, and up from the $10 billion it earned the previous quarter. The first thing that's clear when we look at Apple's balance sheet for the year is the fact that the company's push in services is working. Apple earned $52 billion from selling its products last year, and this revenue has dropped by $1 billion to $51.5 billion in 4Q19. Services, on the other hand, have bagged in $12.5 billion this quarter, up from the $10.5 billion they brought in the year before.
The iPhone has earned Apple $33 billion revenue this year, marking for a $3 billion drop from a year back and a $7 billion sequential increase. This decrease is the smallest across Apple's first three fiscal quarters explained Mr. Tim Cook during the company's earnings call following the release. Apple's lost approximately $300 million in sales in Greater China this quarter despite reports of the iPhone 11 performing strongly in the country.  
Apple CEO Mr. Tim Cook sounded positive when reporting the company's revenue today. According to him, the company has managed to grow revenues despite a $1 billion foreign exchange drag. Revenue for App Store, Cloud and other services hit a record high, and Apple hopes to double its services revenue of 2016 in the fiscal year 2020. The company has confirmed that Apple Pay beat PayPal in the number of transactions carried out in this quarter.
  • Apple is providing the following guidance for its fiscal 2020 first quarter:
  • revenue between $85.5 billion and $89.5 billion
  • gross margin between 37.5 percent and 38.5 percent
  • operating expenses between $9.6 billion and $9.8 billion
  • other income/(expense) of $200 million
  • tax rate of approximately 16.5 percent
Source: Apple.com

Don't Miss
© all rights reserved @2019