Apple’s fiscal fourth quarter ended September 28, 2019. Apple’s fiscal first quarter (the all-important holiday shopping calendar fourth quarter) therefore began on September 29th and ended December 28, 2019. That’s a total of 91 days.
Yesterday, Apple announced financial results for their 91-day quarter. The company posted quarterly revenue of $91.8 billion, an increase of 9 percent from the year-ago quarter and an all-time record. That averages out to $1,008,791,208.79 per day – over $1 billion per day, every day last quarter!
For the first time, Apple made over $1 billion per day last quarter.
Apple on Tuesday posted record results for the final three months of last year delivered by gains in iPhone sales even as the company transitions to digital services and wearables… Net profit hit an all-time high of $22 billion on record quarterly revenue of $91.8 billion, the tech giant said of the results which were far stronger than most analyst estimates.
Revenue was “fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time records for services and wearables,”[Apple CEO Tim] Cook said. Apple’s net income in the holiday quarter ending December 28 set a new record for the California-based company, according to chief financial officer Luca Maestri…
Revenue for its smartphone sales was up nearly eight percent in the quarter at $55.9 billion. Services revenue rose 17 percent from a year ago to $12.7 billion, driven by the launch of its Apple TV+ service and its new credit card. Paid subscriptions to Apple services hit 480 million in December, causing the company to expect to eclipse its 500 million target in the months ahead and eye hitting 600 million by the end of this year.
MacDailyNews Take: Over $1 billion in revenue per day is rather amazing and will hopefully serve to open a few more eyes on and around Wall Street that Apple is a one-of-a-kind phenomenon that’s worth far more than currently valued!