Today, Apple has revealed its revenue growth statistics of the first quarter of its fiscal year 2020. The company’s total revenue has been noted worth of $91.8 billion which is much higher than the expected value of $88.43 billion.
With this rise in revenue, the value of Apple’s shares has also been increased by $4.99 per share of which the market prediction was $4.54 per share. The company has discussed about its expected gross margin growth which was anticipated between 37.5 and 38.5 percent along with revenue between $85.5 billion and 89.5 billion. Finally, the margin has been noted 38.4 percent along with the higher-than-expected growth in revenue.
Apple also notified that it has recorded $12.7 billion in services net sales which has been increased about17 percent year-over-year. Inclusively, the company has showcased $79.1 billion as Product revenue and $22.2 billion as Net income.
Digging to the company’s product revenue that led its quarter, from iPhone it got $56.0 billion, from Mac $7.2 billion, from iPad $6.0 billion, and from Accessories, Home and Wearables it earned $10.0 billion.
Tim Cook, the CEO of Apple states, “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.” He added, “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.”
Apple has wrapped its 2019 with worth $207 billion while the sum of owed count noted around $118 billion.
For the next quarter, Apple’s expected revenue lies between $63.0 billion and $67.0 billion with the same gross margin as it’s a three-month time interval with no holidays coming ahead.
