Apple Has Another Record Holiday Quarter: Earns $91.8 Billion Revenue With 1.5 Billion Active Devices

Records have always been just a matter of time for Apple. Hence, moving on with the company’s 2020 Q1 performance, CEO Tim Cook has proudly reported that revenue of 91.8 billion and 1.5 billion active devices have been the two feats that Apple achieved this time.

For the first fiscal quarter of 2020, Apple had set an optimistic forecast revenue target of $85.5 billion to $89.5 billion. While this was much more than what they had forecasted in the same quarter of 2019, $84.3 billion to be exact, Apple achieved the target with a roar.

Setting up an all-time record for income and revenue, Apple made a revenue of $91.8 billion and profit of $22.2 billion. However, the main icing on the cake was also a massive increment in the number of active devices which moved from 1.4 billion last year to 1.5 billion by the end of the holiday quarter. The report also further revealed that almost 80% of the devices are running on iOS 13, making Apple go right on track and leading its customers to a bright future ahead.

Unfortunately, Apple no longer reports the number of units sold every fiscal quarter or year. But speculations regarding the active iPhones go in favor of the fact that Apple might have just crossed the 1 billion mark there as well since the number of iPhones sold in the last annual year were 900 million already and the trend shows that Apple’s active devices grow by 100 million or more with every passing year.

Meanwhile, Cook has also been very straight forward about how Apple is struggling to keep up with strong demand for Airpod and Apple Watch Series 3.

From the developer sites, Apple also reported that the iOS 13 is on 70% of the active iPhones as compared to 50% in last October and there was also an increase in iPadOS 13 adaption from 33% to 57%.

If you are still curious to know more, Apple did provide a breakdown of revenue by product category and Tim Cook was pretty much thrilled to declare that iPhone 11 and iPhone 11 Pro did play a big role in fueling up the sales. Following are the numbers for Q1 2020

As the first quarter of fiscal year includes the months of October, November and December - the most lucrative period because of holiday shopping being on the rise, one can also assume that people are loving Apple’s products this year and there are high expectations from Apple Watch and Airpod 3 as well.

Q1 of 2020 also had the first quarter overview of Apple’s latest big gamble in the services industry with Apple Arcade and Apple TV+ already winning hearts. However, it seems like the company is not ready to give more details about the revenue that they earned from it as all of the subscription-based services were summarized in the data that relates to “Services”.

Read next: Apple’s New Security Measures Make Location Based Ads Less Effective
Previous Post Next Post