Apple reports record earnings for first quarter, iPhone still its highest earner

By Swapnil Mathur | Published on Jan 29 2020
Apple reports record earnings for first quarter, iPhone still its highest earner

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HIGHLIGHTS

Apple reported $91.8 billion in revenue for the quarter ending December 2018

Apple iPhone generated $55.9 billion in revenue for the company

iPad and Mac revenue saw a decline in comparison to the same quarter the previous year

Apple just got done with its earnings call for the quarter, ending on December 2018, declaring it to be a record-setting quarter. The company reported a quarterly revenue of $91.8 billion, a 9 percent gain over the same quarter from last year. According to Apple, 61 percent of the quarter’s revenue came from international markets.

A closer look at the revenue numbers from Apple’s earnings report sheds light on some very interesting revelations. For example, while Apple says that 61 percent of the revenue came from markets outside of the U.S, almost 60 percent of the revenue was generated by the iPhone alone. Apple CEO Tim Cook said that the strong demand for the iPhone 11 and the iPhone 11 Pro during the holiday season was a strong contributor to the company’s record-setting growth. For perspective, of the $91.8 billion revenue, $55.9 billion was generated by iPhone sales, alone. The numbers are for net sales, meaning that any returns and discounts offered have been deducted from the final figure. The Services wing generated $12.715 billion in revenue, taking the second spot in the revenue tally. The wearables category also showed strong growth, earning Apple $10 billion in revenue, a marked improvement over the $7.3 billion from the same quarter the year before. What is surprising is that the revenue from the Mac and iPad dropped in comparison to the same quarter the year before. However, in comparison to the quarter ending September, both Mac and iPad sales did pick up, most likely owing to the general uptake in sales during the holiday season.

2019 saw Apple launch notable new products like the Apple iPhone 11 Pro (review) and the iPhone 11 (review) alongside the long-awaited 16-inch MacBook Pro. The company also announced an all-new MacPro with some serious hardware inside. There are many rumors about what’s coming from Cupertino in the coming months, but for now, it's just better to wait and watch rather than get prematurely excited.

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Swapnil Mathur

Digit's resident camera nerd, (un)official product photographer and the Reviews Editor

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