Apple has just released the financial results for its last quarter of 2019, thus offering a view on sales during the holiday season. Earnings per share and revenues exceed estimates.
Apple and its CEO, Tim Cook, can be proud of the good performance, achieved mainly thanks to the very good sales figures of the iPhone 11 and AirPods which dominated the market during the holidays.
Apple results: The best quarter in Apple’s history
Analysts had expected earnings of $88.43 billion in earnings and earnings per share of $4.54. Apple has managed to go further with figures of 91.8 billion and 4.99 dollars. Total net profit was $22.24 billion, up 11% from the previous quarter. Tim Cook, therefore, welcomed the brand’s success: “We are extremely pleased to report the best quarter in Apple’s history, driven by strong demand for our iPhone 11 and iPhone 11 Pro models and the absolute record for our services and accessories ”.
Thanks to Christmas and Thanksgiving sales, Apple can boast a base of 1.5 billion devices sold. It is mainly the iPhone 11, iPhone 11 Pro and iPhone 11 Pro Max. They has driven the brand’s revenues up, but they are not the only ones. The AirPods and of course the AirPods Pro were very popular gifts for the holidays. The latter have enabled, almost alone, a 37% increase in revenues for the “Wearable” branch. It includes headphones but also Apple Watch.
Services are up 17%, mostly thanks to Apple TV Plus launched in November. However, competition in the market remains tight with Netflix, HBO Max and of course Disney +. For the future, Apple could count on an iPhone SE 2 intended for owners of iPhone 6 and earlier or those who find the iPhone 11 too large or too expensive. It could also come out in March. The launch of the iPhone 5G on the Chinese market is also expected by specialists. However, we could see a drop in sales in the first quarter of 2020 due to the coronavirus which threatens the rate of production of the iPhone.