Apple Reports Highest Q4 Revenue Ever at $64 Billion USD

Apple has announced its fiscal 2019 fourth quarter numbers, for the period that ended on September 28, 2019.

The company saw a record quarterly revenue for Q4 at $64 billion USD, up 2% compared to the year-ago quarter, while quarterly earnings per share (EPS) were at $3.03, up 4% compared to the year ago quarter. The quarter was helped by Services, which hit a record $12.5 billion USD.

Apple no longer provides unit sales for its devices, only net sales by category. iPhone sales revenue was at $33.3 billion USD, Mac revenue at $6.9 billion USD, iPad revenue at $4.6 billion USD, while Wearables, Home and Accessories were at $6.5 billion in sales revenue.

“We concluded a groundbreaking fiscal 2019 with our highest Q4 revenue ever, fueled by accelerating growth from Services, Wearables and iPad,” said Tim Cook, Apple’s CEO. “With customers and reviewers raving about the new generation of iPhones, today’s debut of new, noise-cancelling AirPods Pro, the hotly-anticipated arrival of Apple TV+ just two days away, and our best lineup of products and services ever, we’re very optimistic about what the holiday quarter has in store.”

Apple says 60% of Q4 revenue came from international sales, while net profit for the quarter was $13.6 billion USD.

“Our strong business performance drove record Q4 EPS of $3.03 and record Q4 operating cash flow of $19.9 billion,” said Luca Maestri, Apple’s CFO. “We also returned over $21 billion to shareholders, including almost $18 billion in share repurchases and $3.5 billion in dividends and equivalents, as we continue on our path to reaching a net cash neutral position over time.”

The company gave the following guidance for its fiscal Q1 2020:

  • 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
Apple’s board of directors also declared a cash dividend of $0.77 per share of the Company’s common stock.

…more to follow