Apple has posted quarterly revenue of $84.3 billion for its fiscal 2019 first quarter ended 29 December 2018, a decline of 5% from the year-ago quarter.
IT also reported quarterly earnings per diluted share of $4.18, up 7,5%.
International sales accounted for 62% of the quarter’s revenue.
Revenue from iPhone declined 15% from the prior year, while total revenue from all other products and services grew 19%.
Services revenue reached an all-time high of $10,9-billion, up 19% over the prior year. Revenue from Mac and Wearables, Home and Accessories also reached all-time highs, growing 9% and 33%, respectively, and revenue from iPad grew 17%.
“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,” says 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,” says 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.”
Apple is providing the following guidance for its fiscal 2019 second quarter:
* Revenue between $55-billion and $59-billion;
* Gross margin between 37% and 38%;
* Operating expenses between $8,5-billion and $8,6-billion;
* Other income/(expense) of $300-million; and
* A tax rate of approximately 17%.