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Home » Apple » Apple Earnings Fall Flat As Expected
apple earnings reprt

Apple released their earnings report and while the company did not do the stellar numbers they always do the numbers are still impressive to say the least.

Apple CEO Tim Cook stated in the earnings report

“While it was disappointing to miss our revenue guidance, we manage Apple for the long term, and this quarter’s results demonstrate that the underlying strength of our business runs deep and wide, Our active installed base of devices reached an all-time high of 1.4 billion in the first quarter, growing in each of our geographic segments. That’s a great testament to the satisfaction and loyalty of our customers, and it’s driving our Services business to new records thanks to our large and fast-growing ecosystem.”

As expected iPhone revenue declined by 15 percent from the prior year to me this big because this is the holiday quarter meaning fewer people wanted a new iPhone for the holidays but it is important to point out this is an iPhone S year.

Total revenue from all other products and services grew 19 percent and services revenue reached an all-time high of $10.9 billion, up 19 percent over the prior year. Apple Music has been growing by leaps and bounds. This year Apple partnered with carriers and other companies like Amazon to bring Apple music to the world. This number does not surprise me Apple is heading in the right direction.

Revenue from the Mac, iWatch, AirPods, HomePod, and Accessories also reached all-time highs, growing 9 percent and 33 percent, respectively, and revenue from iPad® grew 17 percent. I would like to point out here that Apple did up their prices on all hardware that might be a reason for this growth. But I will say I see a lot of people with Apple Watches as well.

A few things I would like to point out Apple services business still constitutes under 13 percent of Apple’s revenues. If Apples Services business should double with the release of one or more of the rumored services expected out in 2019 it would still be less revenue than half the revenues of iPhone.

The second thing I would like to point out Apple generated a cash flow of $26.7 billion in the quarter and has a net cash balance of $130 billion. That means despite issues Apple has had they still posted a profit of $20 billion on revenues of $84.3 billion. Thats impressive for any company in today’s market.

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