Apple's revenue up 2% to $64B in Q4

Wednesday, 30. October 2019 21:31

Apple Inc. said on Wednesday that its revenue in the fourth quarter of fiscal 2019 stood at $64 billion, increasing 2% from the same period a year ago and topping analysts' estimates. Diluted earnings per share (EPS) rose 4% year on year to a fourth-quarter record of $3.03 and iPhone sales fell by 9% but still came in above expectations. For the full fiscal year 2019, the company's revenue decreased 2% to $260.17 billion and EPS were virtually unchanged at $11.89.

"We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad," CEO Tim Cook stated. "With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store," he added.

In its guidance for the first quarter of fiscal 2020, the Cupertino-based tech giant noted it expects to achieve revenue of between $85.5 billion and $89.5 billion.

Apple shares jumped 3% in after-hours trading on better-than-expected results and outlook.

Related Links: Apple Inc.
Author:
Breaking the News / NP