Apple beats analyst Q1 2022 earnings expectations thanks to strong iPhone sales

Apple beats analyst Q1 2020 earnings expectations cheers to stiff iPhone sales

Services also grew 17 percentage year-over-year

Apple

Apple surpassed analyst expectations in its Q1 2020 earnings report thanks to ameliorate than expected iPhone sales.

Overall, the tech giant'due south earnings were upwardly nine pct year-over-year to $91.8 billion USD (roughly $120 billion CAD), eclipsing even Apple's ain earnings guidance for the quarter.

This is primarily due to stiff iPhone revenue powered by the iPhone 11, iPhone xi Pro and xi Pro Max, resulting in an increase of eight per centum and $55.97 billion USD (about $73 billion CAD). This is the first substantial increase in iPhone sales Apple has experienced in a few years, probable because the iPhone xi was generally well-received and also viewed every bit a worthwhile improvement over the iPhone XS serial.

Apple tree as well released a new entry-level iPad, the Apple tree Watch Series v, the AirPods Pro and the 16-inch MacBook Pro this quarter.

Further, the tech giant states that international sales accounted for 61 percent of its acquirement in Q1 2020, marking an all-time high for the visitor.

"We are thrilled to report Apple's highest quarterly revenue ever, fuelled by potent need for our iPhone 11 and iPhone 11 Pro models, and all-fourth dimension records for Services and Wearables," said Tim Cook, Apple's CEO.

"During the holiday quarter our active installed base of devices grew in each of our geographic segments and has now reached over 1.5 billion. Nosotros see this equally a powerful attestation to the satisfaction, engagement and loyalty of our customers — and a great commuter of our growth beyond the board."

Apple's services business organization besides continues to grow rapidly with a 17 percent yr-over-year increase to $12.vii billion USD (approximately $16.7 billion CAD). The company'southward services division includes Apple Music, iCloud, its Tv and Movies app, and new platforms similar Apple Arcade –information technology'due south video game subscription platform — and its video streaming service Apple tree Idiot box+.

The visitor'southward wearables, home and accessories segmentation, which includes the Apple Lookout man and AirPods, hit $ten billion USD (about $thirteen billion CAD), an increase from the $vii.three billion USD ($ix.6 billion CAD) in revenue it brought in during the same quarter concluding year.

Apple's Q1 2020 financial quarter ended on Dec 28th, 2019. The tech giant's guidance for the next quarter is between $63 billion ($82 billion CAD) and $67 billion ($88 billion CAD) in revenue.

In 2020, Apple tree is expected to release its beginning 5G-capable iPhone, as well every bit a successor to the iPhone SE often referred to in rumours as the iPhone nine.

Source: Apple