Apple: record Q1 results
(CercleFinance.com) - It was indeed a Merry Christmas for Apple! The Cupertino based tech giant last night reported Q1 2020 (October to December) results that are significantly above the consensus.
The holidays were therefore highly beneficial for the Apple brand, with it publishing revenues that are up 8.9% at 91.8 billion dollars over the period, i.e. a record for the group. EPS came in at 4.99 dollars (+19%), 55 cents more than analysts expected. Meanwhile, net income reached 22.2 billion dollars, also setting a new record.
In detail, iPhone sales are doing well: bringing in nearly 56 billion dollars over the period, up 7.6%. Meanwhile, its "wearable" items business (smart watches, headphones etc.) saw revenues jump 36%. Finally, the "services" segment, on which Apple is counting a lot on for its new strategy (launch of Apple TV+, credit card, etc.), is promising, with revenues of 12.7 billion dollars, up 17%.
Finally, the group's forecasts reflect the group's strong results, with it expecting between 63 billion and 67 billion dollars in revenues over the current quarter.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The holidays were therefore highly beneficial for the Apple brand, with it publishing revenues that are up 8.9% at 91.8 billion dollars over the period, i.e. a record for the group. EPS came in at 4.99 dollars (+19%), 55 cents more than analysts expected. Meanwhile, net income reached 22.2 billion dollars, also setting a new record.
In detail, iPhone sales are doing well: bringing in nearly 56 billion dollars over the period, up 7.6%. Meanwhile, its "wearable" items business (smart watches, headphones etc.) saw revenues jump 36%. Finally, the "services" segment, on which Apple is counting a lot on for its new strategy (launch of Apple TV+, credit card, etc.), is promising, with revenues of 12.7 billion dollars, up 17%.
Finally, the group's forecasts reflect the group's strong results, with it expecting between 63 billion and 67 billion dollars in revenues over the current quarter.
Copyright (c) 2020 CercleFinance.com. All rights reserved.