Apple Q1 2019 had record Services revenue at $10.9 billion

Brittany A. Roston - Jan 29, 2019, 4:49pm CST
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Apple Q1 2019 had record Services revenue at $10.9 billion

Apple has revealed its Q1 2019 financial results, announcing a quarterly revenue of $84.3 billion. This figure represents a 5-percent decrease over the same quarter last year, with iPhone revenue down 15-percent and other products and services revenue up 19-percent. During its first quarter, the company saw its Services revenue hit a new high at $10.9 billion, a 19-percent increase over last year.

International sales brought in 62-percent of Apple’s first quarter revenue, and though iPhone revenue declined, the company announced record quarterly earnings per diluted share of $4.18, a 7.5-percent increase. As well, Apple says its Q1 2019 revenue from “Mac and Wearables” and “Home and Accessories” increased 9-percent and 33-percent, respectively, both new record highs for the company. iPad revenue jumped 17-percent, as well.

Apple’s Services gross margin was a massive 62.8-percent, while the company’s overall gross margin came in at 38-percent. This is compared to last year’s 58.3-percent Services gross margin.

Talking about its Q1 2019 is Apple CEO Tim Cook, who said:

While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter’s results demonstrate that the underlying strength of our business runs deep and wide. Our active installed base of devices reached an all-time high of 1.4 billion in the first quarter, growing in each of our geographic segments. That’s a great testament to the satisfaction and loyalty of our customers, and it’s driving our Services business to new records thanks to our large and fast-growing ecosystem.

Looking into its second fiscal quarter, Apple anticipates revenue between $55 billion and $59 billion, as well as a gross margin falling between 37- and 38-percent, and operating expenses between $8.5 billion and $8.6 billion. A full list of the financial figures can be viewed here [PDF].


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