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Apple reports 1% increase in quarterly revenue, iPhone and Services drive

By Anton D. Nagy July 31, 2019, 8:00 am
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Rounding up today’s financial reports, is Apple, after previously reporting about Samsung’s poor performance and profit plummet and Huawei being unshaken by the U.S. trade ban. Apple did grow, ever so slightly, reporting a quarterly revenue of $53.8 billion, which is an increase of 1 percent from the same quarter of last year. Earnings per diluted share are reported at $2.18, down 7 percent, but international sales accounted for 59 percent of the quarter’s revenue, says Apple.

This was our biggest June quarter ever — driven by all-time record revenue from Services, accelerating growth from Wearables, strong performance from iPad and Mac and significant improvement in iPhone trends. These results are promising across all our geographic segments, and we’re confident about what’s ahead. The balance of calendar 2019 will be an exciting period, with major launches on all of our platforms, new services and several new products — Tim Cook, Apple CEO

The condensed consolidated statements of operations (PDF) reveal that the iPhone is still the driving engine behind the successful numbers (though it now, for the first time, is making up less than half of Apple’s business), followed by the Mac and iPad closely trailing it, with Wearables, Home and Accessory products combined in between the latter two.


The Services are the second driving force behind the iPhone’s $25,986 (millions) with $11,455 (millions). You can check out the two breakdowns below, and find more at the source link.

Apple is providing the following guidance for its fiscal 2019 fourth quarter:
  • revenue between $61 billion and $64 billion
  • gross margin between 37.5 percent and 38.5 percent
  • operating expenses between $8.7 billion and $8.8 billion
  • other income/(expense) of $200 million
  • tax rate of approximately 16.5 percent


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