Apple Achieves Record $91.8 Billion Revenue in Holiday Quarter
Apple reports its highest-ever quarterly revenue and profit, driven by strong iPhone 11 sales and all-time records in wearables and services. The tech giant also sees its wearables category surpass Mac revenue for the first time.
Apple announces record-breaking financial results for its first fiscal quarter of 2020, generating $91.8 billion in revenue and $22.2 billion in net profit. This performance surpasses the company's previous all-time high and shows significant growth compared to the year-ago quarter. International sales account for 61 percent of the total revenue, while the gross margin reaches 38.4 percent.
Strong demand for the iPhone 11 and iPhone 11 Pro models drives the successful quarter, bringing in nearly $56 billion in iPhone revenue. Additionally, Apple achieves all-time revenue records in both its Services and Wearables categories. Notably, the Wearables, Home, and Accessories segment generates $10.0 billion, officially surpassing the Mac segment's $7.2 billion for the first time in company history.
Apple's active installed base of devices grows to over 1.5 billion across all geographic segments during the holiday period. Looking ahead, the company provides guidance for the second fiscal quarter of 2020, expecting revenue between $63 billion and $67 billion. Following the earnings release, Apple's share price rises over two percent in after-hours trading.