Apple Posts Record Fourth Quarter Revenue Driven by Services Growth
Apple reports $64 billion in quarterly revenue and $13.7 billion in profit, setting new earnings per share and services records. The tech giant anticipates strong holiday quarter sales between $85.5 billion and $89.5 billion.
Apple announces financial results for its fourth fiscal quarter of 2019, posting $64.0 billion in revenue and $13.7 billion in net profit. Earnings per share reach a new record for the quarter at $3.03, while the services division achieves an all-time high in revenue. International sales account for 60 percent of the quarter's total revenue, and the company declares a dividend of $0.77 per share.
For the entire fiscal year, Apple generates $260.2 billion in sales with $55.3 billion in net income. CEO Tim Cook highlights accelerating growth from Services, Wearables, and iPad as key drivers of the quarterly success. Notably, this marks one full year since Apple stops reporting unit sales data for iPhones, iPads, and Macs, choosing instead to focus solely on revenue figures.
Apple shows strong optimism for the upcoming holiday season by providing revenue guidance of $85.5 billion to $89.5 billion for the first quarter of fiscal 2020. This optimistic forecast reflects excitement surrounding the recent iPhone launches, the new AirPods Pro, and the imminent debut of Apple TV+. Following the earnings release, Apple's stock rises approximately 1.5 percent in after-hours trading.