Apple reports all-time record revenue and earnings

Apple on Tuesday reported its financial results for the fiscal first quarter of 2020 with quarterly revenue of $91.8 billion. That’s a 9 percent increase over the same quarter last year, and an all-time record according to the company.

“We are thrilled to report Apple’s highest quarterly revenue ever, fueled by strong demand for our iPhone 11 and iPhone 11 Pro models, and all-time 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. We see this as a powerful testament to the satisfaction, engagement and loyalty of our customers — and a great driver of our growth across the board.”

Apple said that international sales accounted for 61 percent of the revenue.

Apple’s iPhone revenue was $55.9 billion this quarter, up from the $51.9 reported in the same quarter as last year. Mac sales were $7.1 billion, down from the $7.4 billion last year; iPad revenue was $5.9 billion, down from $6.7 last year; wearables was $10 billion, up from 7.3 billion last year; and services revenue $12.7 billion, up from the $10.8 billion posted last year.