Apple today announced financial results for its fiscal 2020 first quarter ended December 28, 2019. The Company’s quarterly revenue was $91.8 billion, an increase of 9% from the year-ago quarter and an all-time record. Quarterly earnings per diluted share were $4.99, up 19%, also an all-time record.
Gross margin for the quarter was 38.4%, compared to 38.0% in the year-ago quarter. International sales accounted for 61% of the quarter’s revenue.
Apple declared an upcoming dividend payment of $0.77 per share, payable February 13 to shareholders of record as of February 10.
“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. 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.”
“Our very strong business performance drove an all-time net income record of $22.2 billion and generated operating cash flow of $30.5 billion,” said Luca Maestri, Apple’s CFO. “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, as we maintain our target of reaching a net cash neutral position over time.”
Apple is providing the following guidance for its fiscal 2020 second quarter:
- Revenue between $63.0 billion and $67.0 billion
- Gross margin between 38.0%and 39.0%
- Operating expenses between $9.6 billion and $9.7 billion
- Other income/(expense) of $250 million
- Tax rate of approximately 16.5%