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iPhone 11 is the reason Apple hit the highest revenue this holiday quarter

Apple has recorded the highest revenue generation last quarter and iPhone 11 is the reason. 

IANS IANS
New Delhi Published on: January 29, 2020 11:24 IST
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Apple records $91.8 billion sale last quarter

This year could again be the year when Apple sees huge revenue generation from its iPhones, especially the affordable one. Fueled by strong demand for iPhone 11 series, wearables and services, Apple has posted an all-time record for quarterly revenue at $91.8 billion, an increase of 9 per cent from the year-ago quarter. International sales accounted for 61 per cent of the revenue for its fiscal 2020 first quarter that ended on December 28, 2019.

"We are thrilled to report Apple's highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for Services and Wearables," said Tim Cook, Apple's CEO.

"During the holiday quarter, our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion," Cook said in a statement late Tuesday.

Apple reported an all-time net income record of $22.2 billion and generated operating cash flow of $30.5 billion.

"We also returned nearly $25 billion to shareholders during the quarter, including $20 billion in share repurchases and $3.5 billion in dividends and equivalents," informed Luca Maestri, Apple CFO.

Apple predicts revenue between $63 billion and $67 billion for its fiscal 2020 second quarter, along with operating expenses between $9.6 billion and $9.7 billion

Apple's quarterly earnings per diluted share was $4.99, up 19 per cent and also an all-time record.

"We see this as a powerful testament to the satisfaction, engagement and loyalty of our customers, and a great driver of our growth across the board," said Cook.

In addition to this, Apple recorded double-digit growth in India from October to December, yet again due to the iPhone 11 series.

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