Apple Reports Q4 2019 Earnings: $64 Billion Revenue and $13.7B Profit

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Apple today announced its fourth quarter financial results (third calendar quarter) for 2019 where it posted a profit of $13.7 billion on total revenue of $64 billion. In the same quarter in 2018, Apple had posted a profit fo $14.1 billion on revenue of $62.9 billion.

The fourth quarter is usually the slowest for Apple as most people hold back on their new iPhone purchase until the second half of September when new iPhones usually go on sale. The fourth quarter results also do not show the complete impact of the launch of the iPhone 11 series since the phones were on sale for only around two weeks for the entire quarter.

“We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad,” said Tim Cook, Apple’s CEO. “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.”

As per Apple CEO Tim Cook, the company’s excellent Q4 results were led by growth from Services, Wearables, and iPad. While iPhone sales accounted for $33.6 billion of the total revenue, Services, Wearables, and iPad combined generated revenue of $23.68 billion. Mac sales generated another $6.99 billion in revenue.

For Q1 2020 (fourth calendar quarter), Apple expects to generate revenue between $85.5 billion and $89.5 billion.

With the iPhone 11 series doing extremely well, Apple will likely report excellent Q1 2020 results as well. The launch of the AirPods Pro and the Mac Pro should also help in this regard.

[Via Apple]