While Apple’s fiscal 2019 will be remembered as a year of ups and downs, growth of the company’s subscription services last quarter helped reverse serious holiday season and second quarter shortfalls, Venturebeat.com reported.
Apple reports record Q4 2019 revenue of $64bn
STEPANAKERT, OCTOBER 31, ARTSAKHPRESS: The company on Wednesday announced its fourth quarter 2019 results, top-lined by revenues of $64 billion, slightly higher than the year-ago quarter: Services revenue grew sharply, while earnings from both iPhones and Macs fell somewhat below last year’s levels.
In July, Apple told analysts to expect fourth quarter revenues in the $61 to $64 billion range, with a gross margin between 37.5% and 38.5%. Ahead of the announcement, analysts expected sales of $63 billion, up only slightly from actual sales of $62.9 billion in Q4 2018, and $2.83 in estimated earnings per share, down from $2.91 one year ago. Actual earnings per share were $3.03, up 4%, though net income was down to $13.686 billion from $14.125 billion.