Apple posts record fiscal Q4 revenue

Apple posts record fiscal Q4 revenue

Apple has posted quarterly revenue of $64 billion (£49bn), an increase of 2% on the equivalent period last year, in its fiscal Q4 financial results. 

Quarterly earnings per diluted share of $3.03 (£2.34) were up 4%, while international sales accounted for 60% of the quarter’s revenue.

iPhone sales declined from $36.76bn (£27.98bn) last year to $33.36 (£25.39bn), but Apple's services division leapt from $10.6bn (£8.1bn) to $12.5bn (£9.5bn).

“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.”

“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.” 

Apple is forecasting revenue between $85.5bn (£65.1bn) and $89.5bn (£68.1bn) for its fiscal 2020 first quarter.

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