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Dec 28, 2019
Apple Q1 2020 Earnings Report
Apple's Q1 2020 earnings were released, revealing record revenue and earnings driven by iPhone, Wearables, and Services.
Key Takeaways
Apple reported a record first quarter with revenue reaching $91.8 billion, a 9% increase year-over-year, and earnings per diluted share of $4.99, up 19% year-over-year. The results were driven by strong demand for iPhone 11 and iPhone 11 Pro models, as well as record performance in Services and Wearables.
Apple posted all-time record quarterly revenue of $91.8 billion, up 9% year-over-year.
Quarterly earnings per diluted share reached a record $4.99, a 19% increase year-over-year.
International sales accounted for 61% of the quarter’s revenue.
The active installed base of devices grew in each geographic segment, reaching over 1.5 billion.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Apple provided the following guidance for its fiscal 2020 second quarter:
Positive Outlook
- Revenue between $63.0 billion and $67.0 billion
- Gross margin between 38.0 percent and 39.0 percent
- Other income/(expense) of $250 million
- Cash dividend of $0.77 per share of the Company’s common stock
- The dividend is payable on February 13, 2020 to shareholders of record as of the close of business on February 10, 2020.
Challenges Ahead
- Gross margin between 38.0 percent and 39.0 percent
- Operating expenses between $9.6 billion and $9.7 billion
- Tax rate of approximately 16.5 percent
- The company is exposed to potential liabilities and increased costs.
- The company's future performance is subject to risks and uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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