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Apple posts Q4 earnings: Revenue hits a record-breaking $64 billion during impressive quarter

Updated Oct 30th, 2019 4:44PM EDT
Apple Earnings
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Apple today posted its earnings report for the September quarter and, in typical Apple fashion, the numbers are staggering. For the quarter gone by, Apple posted revenue of $64 billion and EPS of $3.03Analysts on Wall Street, meanwhile, were anticipating Apple’s quarterly revenue to come in at around $63 billion and earnings to come in at about $2.84 per share. As a point of reference, Apple during the same quarter last year posted revenue of $62.9 billion and an EPS of $2.91.

Clearly, Apple enjoyed yet another impressive quarter with the company boasting that $3.03 a share marks a new quarterly record for EPS. Similarly, the $64 billion in revenue marks a new Q4 record.

“Our strong business performance drove record Q4 EPS of $3.03 and record Q4 operating cash flow of $19.9 billion,” Apple CFO Luca Maestri said in a press release. “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 of course no longer releases unit sales for any of its products. That being the case, we have to rely on quarterly revenue in order to get a sense of how any given product is doing. That said, revenue from the iPhone during the quarter checked in at $33.36 billion. During the same quarter a year-ago, iPhone revenue came in at $37.1 billion. So once again, iPhone revenue took a hit but revenue from other Apple products and services managed to pick up the slack.

Case in point: Apple generated $12.5 billion from services during the quarter gone by, a solid jump from the $9.98 billion it posted during the same quarter a year ago. Notably, year-over-year revenue from the Mac fell from to $7.4 billion to $6.99 billion. iPad revenue, though, jumped slightly from $4 billion to $4.65 billion. And lastly, Apple saw revenue from its line of wearables, home, and accessory devices jump from $4.2 billion to $6.5 billion.

Looking ahead to the upcoming holiday quarter, Apple is anticipating revenue to fall between $85.5 billion and $89.5 billion. As a point of reference, Apple during the 2018 holiday quarter posted revenue of $84 billion.

Yoni Heisler Contributing Writer

Yoni Heisler has been writing about Apple and the tech industry at large with over 15 years of experience. A life long expert Mac user and Apple expert, his writing has appeared in Edible Apple, Network World, MacLife, Macworld UK, and TUAW.

When not analyzing the latest happenings with Apple, Yoni enjoys catching Improv shows in Chicago, playing soccer, and cultivating new TV show addictions.

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