Apple reveals Q1 2019 earnings report with $84.3 billion in revenue

Apple has shared its quarterly earnings report for Q1 2019 fiscal year, which ended December 29, 2018. The holiday season helped the company pull $84.3 billion USD in revenue, a five percent decline in year-over-year figures.

Cupertino revealed that revenue from iPhone declined 15 percent from the prior year, while total revenue from all other products and services addressed 19 percent of growth year-over-year. Revenue from services alone reached an all-time high of $10.9 billion USD.

“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,” said Tim Cook, Apple’s CEO. “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.”

“We generated very strong operating cash flow of $26.7 billion during the December quarter and set an all-time EPS record of $4.18,” said Luca Maestri, Apple’s CFO. “We returned over $13 billion to our investors during the quarter through dividends and share repurchases. Our net cash balance was $130 billion at the end of the quarter, and we continue to target a net cash neutral position over time.”

Except for the declined numbers from iPhone, most of Apple’s offerings reached an all-time high in revenue. Revenue from Mac and Wearables, Home and Accessories grew 9 percent and 33 percent, respectively, and revenue from iPad hit a 17 percent growth. Apple said international sales accounted for 62 percent of the quarter’s revenue.