Apple Breaks All-Time Revenue and Profit Records in Holiday Quarter
Apple reports record Q1 2020 revenue of $91.8 billion and profit of $22.2 billion, driven by strong iPhone 11 sales and growing Services and Wearables categories.
Apple announces record-breaking Q1 2020 earnings with $91.8 billion in revenue and $22.2 billion in profit, easily surpassing its own forecast and last year's numbers. CEO Tim Cook attributes this historic milestone to robust demand for the iPhone 11 and iPhone 11 Pro models, as well as all-time high revenue in both Services and Wearables.
The tech giant's active device installed base now exceeds 1.5 billion devices worldwide, reflecting strong customer loyalty and engagement across all geographic segments. The iPhone remains the biggest revenue driver at nearly $56 billion, while Wearables, Home, and Accessories bring in an impressive $10 billion during the holiday shopping months.
Apple's financial strength allows the company to return nearly $25 billion to shareholders during the quarter through share repurchases and dividends. Although the company no longer reports exact unit sales for its hardware, the significant revenue growth across Mac, iPad, and new Services like Apple Arcade shows a thriving and diversified product ecosystem.