AAPL’s Q4 2019 earnings day has arrived. For the fourth fiscal quarter of 2019, Apple had forecasted revenue between $61 billion and $64 billion. That compares to the $62.9 billion it reported in the same quarter last year.
How did Apple perform during Q4 2019? In its earnings release, AAPL has announced revenue of $64 billion and profit of $13.69 billion. Apple no longer reports iPhone, iPad, and Mac unit sales numbers, though it does report a revenue breakdown by product category. More details below.
Apple CEO Tim Cook had this to say about AAPL’s Q4 2019 earnings:
CFO Luca Maestri added:
AAPL earnings by product
While AAPL earnings no longer include hardware unit sales, the company does provide this revenue breakdown by product category:
- $33.36 billion: iPhone
- $12.5 billion: Services
- $6.99 billion: Mac
- $6.52 billion: Wearables, Home, and Accessories
- $4.66 billion: iPad
The Q4 2019 earnings release covers the first week of iPhone 11 availability, and we expect Apple to comment on the launch during its earnings call. That being said, the full effect of the iPhone 11 also won’t show up in earnings results until Apple reports fiscal Q1 2020 numbers in January.
The Q4 earnings release also includes several new Apple Services, including the new Apple Card credit card with Goldman Sachs, and the Apple Arcade game subscription service. Apple TV+ launches on November 1.
For Q1 2020, which is the holiday quarter, Apple is forecasting:
- revenue between $85.5 billion and $89.5 billion
- gross margin between 37.5 percent and 38.5 percent
- operating expenses between $9.6 billion and $9.8 billion
- other income/(expense) of $200 million
- tax rate of approximately 16.5 percent
AAPL stock is up just over 2 percent:
