Apple Reports 4Q 2019 Results: $13.7B Profit on $64B Revenue

[tacobell fan]

Apple today announced financial results for the third calendar quarter and fourth fiscal quarter of 2019.

For the quarter, Apple posted revenue of $64.0 billion and net quarterly profit of $13.7 billion, or $3.03 per diluted share, compared to revenue of $62.9 billion and net quarterly profit of $14.1 billion, or $2.91 per diluted share, in the year-ago quarter. Earnings per share set a new fourth quarter record, while services revenue set an all-time quarterly record.

Gross margin for the quarter was 38.0 percent, compared to 38.3 percent in the year-ago quarter, with international sales accounting for 60 percent of revenue. Apple also declared an upcoming dividend payment of $0.77 per share, payable November 14 to shareholders of record as of November 11.

This quarter marks a full year since Apple changed the way it reports its results, with the company no longer providing unit sales data for iPhone, iPad, and Mac. As a result, Apple is only providing revenue figures for its various segments, leaving analysts to estimate unit sales based on their own calculations

For the full fiscal year, Apple generated $260.2 billion in sales with $55.3 billion in net income, compared to $265.5 billion in sales and $59.5 billion in net income for fiscal 2018.

“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.”

Apple's guidance for the first quarter of fiscal 2020 includes expected revenue of $85.5-89.5 billion and gross margin between 37.5 and 38.5 percent.