iPhone Returns To Positive Y/Y Revenue Growth
Apple announced financial results for fiscal Q1 2020 first quarter ended December 28, 2019. The Company posted quarterly revenue of $91.8 billion, an increase of 9 percent from the year-ago quarter and an all-time record. After four consecutive quarters of negative y/y revenue growth, iPhone revenue turned up and led total revenues.
Revenues from iPhones still make up over 60 percent of the company revenues. Wearables are on a tear, up 37 percent with services still showing strength, up 16.92 percent year-on-year.
As much as Wall Street wants to disbelieve, Apple is still a hardware company, deriving over 85 percent of products you can drop on your feet.
Interestingly, Europe showed the strongest revenue growth with China up 3 percent for the year.
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…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 – Tim Cook, CEO
