It's that time again. Apple has opened its books and published its results for the first quarter of 2020. The numbers are boosting the stock.
Cupertino exceeded expectations with an EPS (earnings per share) of $4.99. Analysts on average forecast $4.51 per share. Apple generated $91.8 billion and posted a profit of $22.2 billion. In the first quarter of the previous year, sales were $84.31 billion and profits were $19.97 billion.
Apple's record quarter
The iPhone business is said to have brought in around 55.96 billion US dollars, while revenue from services is 12.72 billion US dollars. As announced at the end of 2018, Apple did not provide exact sales figures.
We are thrilled to report Apple's highest quarterly revenue ever, driven by strong demand for our iPhone 11 and iPhone 11 Pro, as well as record sales in Services and Wearables. During the holiday quarter, our active installed base grew in each of our geographic segments, now reaching over 1.5 billion. We see this as a strong testament to our customers' satisfaction, engagement and loyalty—and a great driver of our growth across all areas.
Tim Cook, CEO of Apple
The Cupertino-based company has forecast sales of around 63 to 67 billion US dollars for the current quarter. The share price rose by around three percent after the market closed. (Photo by Phongphan / Bigstockphoto)
