Apple: Record revenue to end the fiscal year

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Apple today announced financial results for its fourth quarter of 2019 ended September 28, 2019. The Company posted quarterly revenue of $64 billion, an increase of 2 percent over the previous quarter. International sales accounted for 60% of the quarter’s revenues, despite difficulties in Japan, China and India. “We concluded a record fiscal year in 2019 with our highest revenue ever in the fourth quarter, fueled by accelerated growth with Services, Wearables and the iPad,” said Tim Cook, CEO of Apple. The firm did not specify the number of iPhone units (11, 11 Pro and 11 Pro Max) or Apple Watch Series 5 sold this quarter, the main engine of sales since these new products were marketed in mid-2011.

Tim Cook optimistic

Not surprisingly, the CEO of Apple is positive about the new fiscal year, especially since the company has just launched its AirPods Pro, wireless in-earphones active noise reduction and will launch tomorrow.

Shareholders very happy

Apple chief financial officer Luca Maestro said Apple has “returned more than $21 billion to shareholders, including nearly $18 billion in share buybacks and $3.5 billion in dividends and cash equivalents.” The firm takes the opportunity to announce its earnings estimates for the first quarter of 2020 with revenues between $85.5 and $89.5 billion and a gross margin between 37.5% and 38.5%.

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