Apple announces Q1 2019 revenue of $84.3b following revision down from $89-93b

[Disco Bob]

Apple’s earnings day has arrived, and despite massive revenue and profit in the billions, it’s a bit of a different quarter for Apple for a few reasons. For starters, today’s earnings results mark the first time Apple is choosing not to break down revenue by iPhone, iPad, and Mac categories. And Apple already issued a rare guidance revision, lowering revenue guidance from between $89 billion and $93 billion to $84 billion.

With final results out, Apple has reported $84.3 billion in revenue and $19.97 billion in profit during the holiday quarter. During the same quarter a year ago, Apple reported $88.3 billion in revenue and $20.1 billion in profit. The two-year compare gives more perspective, when Apple reported $78.4 billion in revenue and $17.89 billion in profit.

Apple forecasts revenue between $55 billion and $59 billion over the next quarter — one in which it will be up against a $61.1 billion revenue compare year over year. Read on for the full report:

 

CEO Tim Cook had this to say:

“While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter’s results demonstrate that the underlying strength of our business runs deep and wide,” said Tim Cook, Apple’s CEO. “Our active installed base of devices reached an all-time high of 1.4 billion in the first quarter, growing in each of our geographic segments. That’s a great testament to the satisfaction and loyalty of our customers, and it’s driving our Services business to new records thanks to our large and fast-growing ecosystem.”

While CFO Luca Maestri added this:

“We generated very strong operating cash flow of $26.7 billion during the December quarter and set an all-time EPS record of $4.18,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to our investors during the quarter through dividends and share repurchases. Our net cash balance was $130 billion at the end of the quarter, and we continue to target a net cash neutral position over time.”

Stay tuned for more coverage of Apple’s earnings call with investors, which takes place at the top of the hour.

 

 

https://9to5mac.com/2019/01/29/aapl-q1-2019-earnings/