Apple announces record profits for the first quarter of 2020
Apple announces record profits for the first quarter of 2020

Apple announced its financial results for the first quarter of fiscal year 2020 on December 28, 2019. In general, the company exceeded expectations after achieving quarterly sales of $ 91.8 billion, compared with $ 84.3 billion in the same period last year and $ 88.3 billion in the first quarter of  last year.  2018

The company had previously lowered the prices of most iPhone models before the start of the first quarter of the fiscal year and introduced several new services to bypass the subscriber base.

The company originally expected sales of $ 85.5 billion to $ 89.5 billion in the first quarter of 2020, but it reached $ 91.8 billion, an increase of 9%.  Compared to the same period last year, it achieved $ 84.3 billion in sales.

“We are delighted to announce the highest profits ever made by Apple,” said Tim Cook, Apple CEO. “This is supported by strong demand for iPhone 11 and iPhone 11 Pro models, services and mobile devices. The number of installations of our devices increases every quarter of the holidays and exceeds  Our geographical area is currently 1.5 billion.

The company said it sold $ 55.957 billion on iPhones, $ 7.116 billion on Mac computers, and $ 5.977 billion on iPads this quarter.

Total sales of mobile, home and accessories totaled $ 10.01 billion, while service revenue was $ 12.715 billion.

The value of the iPhone sold a year ago was $ 51.98 billion, the value of Mac devices was $ 7.416 billion, the value of iPad computers was $ 6.729 billion, the value of mobile devices and accessories was $ 7.308 billion, and service revenue was $ 10.785 billion.

In other words, the company saw a decrease in sales of Mac and iPad computers, but it saw growth in all other categories, and while the iPhone is still the company's strongest commercial product, there are more and more mobile devices and services.  Importance.

Apple notes that international sales account for 61% of sales in the three quarters of October, November, and December, while Apple has achieved annual and quarterly net sales in four of the five major regions.  a plus.

In Europe, quarterly numbers increased from $ 14.946 billion to $ 23.273 billion, in China from $ 1.1314 billion to $ 13.578 billion, and in America from $ 29.322 billion to $ 41.367 billion, but Asia increased from $ 7.378 billion to 3.6656  Billion dollar.  , Pacific region.

However, Japan saw quarterly growth from $ 4.982 billion to $ 6.223 billion.  Compared to $ 6.91 billion in 2019, this is a decrease from the previous year.

"We had a net income of $ 22.2 billion and an operating cash flow of $ 30.5 billion in this quarter," said Luca Maestri, Apple's chief financial officer.

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