Apple posts strong quarter on service revenue

Apple iPhone 11
Apple posted a strong September quarter based on strong revenue from services, wearables, and iPads. (Apple)

Apple posted revenue of $64 billion for its fiscal 2019 fourth quarter ended September 28, 2019, up 2% from the year-ago quarter, and earnings per diluted share of $3.03, up 4%. International sales accounted for 60% of the quarter’s revenue.

During the quarter, Apple introduced a host of new products, including three new iPhones, as well as additional Apple Watch and iPad models. Apple is also reportedly unveiling a new iPhone SE 2 phone in 2020 priced at $399.

“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, in a statement. “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.”

Free Daily Newsletter

Interesting read? Subscribe to FierceElectronics!

The electronics industry remains in flux as constant innovation fuels market trends. FierceElectronics subscribers rely on our suite of newsletters as their must-read source for the latest news, developments and predictions impacting their world. Sign up today to get electronics news and updates delivered to your inbox and read on the go.

For its fiscal 2020 first quarter, Apple projects revenue of $85.5 to $89.5 billion, gross margin of 37.5 to 38.5%, and operating expenses between $9.6 to $9.8 billion.

Suggested Articles

IC Insights analyst sees economic softness that began in 2019 hitting analog sales in many regions again in 2020.

Omdia forecast a $1.7B reduction in revenues for auto power semiconductors

ABI says biggest impact of COVID-19 is vehicle fleet WAN devices for monitoring and other purposes.